InterDigital soars on prelim Q4 beat, favorable court decision on Lenovo dispute

InterDigital

19/01/2023 17:44

** Shares of video technology company InterDigital Inc
 IDCC.O  rise 3.8% to $61.55
    ** IDCC now expects total Q4 rev to be $114 mln, compared to
analysts' view of $102.5 mln, as per Refinitiv IBES data
    ** Higher revenue driven primarily by new agreements signed
in the second half of the quarter; Earlier, company had forecast
revenue of $98 mln to $102 mln
    ** Co sees EPS of $0.93, above estimates of $0.57
    ** Co also wins decision from UK court in its litigation
against Lenovo
    ** UK Court of Appeal upheld lower court decision,
confirming that Lenovo is infringing a valid and essential
InterDigital cellular patent
    ** IDCC shares fell 31% in 2022
 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))