InterDigital Shares Pressured as Q4 Profits Disappoint
InterDigital (IDCC) shares are heading lower in early trading after the company posted weaker-than-expected Q4 profits.
For the quarter, the wireless technology company posted revenue of $58.7 million, ahead of the Street at $57.4 million. But profits of nine cents a share were short of the Street at 16 cents. The company said recurring revenue from existing licensing agreements was $51.4 million.
IDCC said it expects recurring revenue of $69 million to $71 million for the first quarter, including nearly $20 million from a licensing agreement with Samsung, offset by the loss of $1.1 million from a customer who exited the handset business.
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