WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — InterDigital Inc. (IDCC) on Thursday reported first-quarter net income of $75.3 million.
The Wilmington, Delaware-based company said it had net income of $2.14 per share. Earnings, adjusted for one-time gains and costs, came to $2.57 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.54 per share.
The wireless research and development company posted revenue of $205.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $197.7 million.
For the current quarter ending in June, InterDigital expects its per-share earnings to range from $1.41 to $1.60.
The company said it expects revenue in the range of $139 million to $143 million for the fiscal second quarter.
InterDigital expects full-year earnings in the range of $8.74 to $11.84 per share, with revenue ranging from $675 million to $775 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