InterDigital: Q3 Earnings Snapshot

WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — InterDigital Inc. (IDCC) on Thursday reported third-quarter net income of $47.9 million.

The Wilmington, Delaware-based company said it had net income of $1.72 per share. Earnings, adjusted for one-time gains and costs, came to $2.13 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.

The wireless research and development company posted revenue of $140.1 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $98.9 million.

For the current quarter ending in December, InterDigital expects its per-share earnings to range from $1.17 to $1.29.

The company said it expects revenue in the range of $102 million to $106 million for the fiscal fourth 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 Zacks stock report on IDCC at https://www.zacks.com/ap/IDCC