InterDigital Q1 revenue up 30% to $263.5M; net income down 22% on higher costs

InterDigital, Inc.

2024-Q1 EPS reported $2.88 revenue$263,542,000

Revenue $263.5M (+30% YoY) driven by record CE/IoT licensing and $166.7M catch-up revenue.
GAAP diluted EPS $2.88 vs $3.58 YoY; non-GAAP EPS $3.58 vs $4.21.
CE, IoT/Auto revenue surged to $182.5M (from $16.1M) driven by Samsung agreement.
Reaffirmed FY2024 revenue guidance $620M-$670M; Q2 outlook $93M-$97M.
Returned $39.2M to shareholders: $29M buybacks, $10.2M dividends.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

InterDigital, Inc. reported the quarter ended March 31, 2024 results: revenue $263.5, net income $81.7, EPS $2.88. Guidance reaffirmed.

Period: the quarter ended March 31, 2024
Revenue: $263.5
Net income: $81.7
EPS: $2.88
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Quarter 2024 Financial Highlights, as compared to First Quarter 2023: Three Months Ended March 31, (in millions, except per share data) 2024 2023 Change GAAP Results: Revenues $263.5 $202.4 30% Operating Expenses (a) $159.8 $83.1 92% Net income 1 $81.7 $105.3 (22)% Net income 1 margin 31% 52% (21) ppt Diluted EPS 1 $2.88 $3.58 (20)% Non-GAAP Results: Adjusted

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Source: SEC EDGAR

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