InterDigital Q3 revenue beats outlook; raises FY 2024 guidance midpoint by $145M to $860M

InterDigital, Inc.

2024-Q3 EPS reported $7.84 revenue$615,714,000

Q3 revenue $128.7M (down 8% YoY) above top end of guidance; GAAP EPS $1.14, non-GAAP EPS $1.63.
Raised FY2024 revenue guidance to $855-$865M (up from $690-$740M); Q4 guide $239-$249M.
CE/IoT/Auto revenue up 15% YoY to $40.6M; smartphone revenue down 16% to $87.4M.
Announced new license agreement with OPPO and binding arbitration with Lenovo in early Q4.
Adjusted EBITDA $64.8M (50% margin) vs $83.5M (60%) in Q3 2023.

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