- InterDigital, Inc (NASDAQ:IDCC) shared preliminary financial results for the quarter that ended December 31, 2022.
- IDCC expects fourth-quarter total revenue of approximately $114 million, up from the prior expectation of $98 million – $102 million (consensus $102.6 million), driven primarily by new agreements signed in the second half of the quarter.
- The company expects operating expenses of approximately $79 million, versus the prior expectation of $76 million – $79 million.
- IDCC expects net non-operating income of approximately $1 million, driven by higher interest income and foreign currency gains.
- Net income will likely be approximately $28 million, or $0.93 per share (consensus $0.57).
- Adjusted EBITDA will likely be approximately $60 million.
- Cash and cash equivalents, restricted cash, and short-term investments will likely be $1.2 billion as of December 31, 2022.
- IDCC also won another critical decision from a U.K. court in the company’s litigation against Lenovo Group Ltd (OTC:LNVGF) (OTC:LNVGY).
- The court upheld the lower court decision, confirming that Lenovo infringed a valid and essential InterDigital cellular patent.
- In July 2021, the U.K. High Court ruled that the patent-in-suit is valid, infringed, and essential to the 4G LTE standard.
- Price Action: IDCC shares traded higher by 5.23% at $62.41 in the premarket on the last check Thursday.
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