WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — InterDigital Inc. (IDCC) on Thursday reported first-quarter earnings of $105.3 million.
On a per-share basis, the Wilmington, Delaware-based company said it had profit of $3.58. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, were $4.21 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The wireless research and development company posted revenue of $202.4 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $97.4 million.
For the current quarter ending in June, InterDigital expects its per-share earnings to range from $1.19 to $1.29.
The company said it expects revenue in the range of $100 million to $104 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $103.6 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a IDCC">Zacks stock report on IDCC at https://www.zacks.com/ap/IDCC