Why InterDigital (IDCC) Shares Are Gaining Today - InterDigital (NASDAQ:IDCC)

InterDigital, Inc IDCC shared preliminary financial results for the quarter that ended December 31, 2022.
IDCC expects fourth-quarter total revenue of approximately $114 million, up from the prior expectation of $98 million - $102 million (consensus $102.6 million), driven primarily by new agreements signed in the second half of the quarter.
The company expects operating expenses of approximately $79 million, versus the prior expectation of $76 million - $79 million.
IDCC expects net non-operating income of approximately $1 million, driven by higher interest income and foreign currency gains.
Net income will likely be approximately $28 million, or $0.93 per share (consensus $0.57).
Adjusted EBITDA will likely be approximately $60 million.
Cash and cash equivalents, restricted cash, and short-term investments will likely be $1.2 billion as of December 31, 2022.
IDCC also won another critical decision from a U.K. court in the company's litigation against Lenovo Group Ltd LNVGF LNVGY.
The court upheld the lower court decision, confirming that Lenovo infringed a valid and essential InterDigital cellular patent.
In July 2021, the U.K. High Court ruled that the patent-in-suit is valid, infringed, and essential to the 4G LTE standard.
Price Action: IDCC shares traded higher by 5.23% at $62.41 in the premarket on the last check Thursday.

InterDigital Boosts Q4 Revenue Guidance Above Consensus; Wins Court Ruling Against Lenovo