InterDigital, Inc. - IDCC STOCK NEWS

InterDigital has released a report detailing the impact of AI and ML in the video entertainment industry, valued at approximately $84 billion. The report discusses how AI can enhance operations across the video supply chain, improving efficiency and reducing costs. It highlights AI's potential in video encoding and streaming technologies, including the upcoming role of machine learning in developing advanced encoding mechanisms. The report emphasizes the need to understand both the capabilities and limitations of these technologies for future applications in the industry.

InterDigital and ABI Research released a report illustrating how enterprise 5G can enhance energy efficiency amidst global sustainability efforts. With carbon emissions expected to rise, the ICT sector may account for 20% of global energy consumption by 2030. Notably, 5G networks could potentially lead to a 3,800-terawatt energy savings and a 1.2 gigaton reduction in emissions in sectors like smart manufacturing. The report emphasizes 5G's role in achieving sustainability goals, projecting a reduction of 37 gigatons of CO2 by 2030.

InterDigital (NASDAQ:IDCC) reported a robust third quarter for 2021, with total revenue of $143.5 million, a 64% increase from $87.5 million in Q3 2020. Recurring revenue also rose to $93.4 million, aided by ten new patent license agreements, including key deals with Xiaomi. Operating income surged 138% to $36.8 million. Despite a rise in operating expenses to $106.7 million, attributed to restructuring costs, net income grew to $26.2 million, or $0.83 per diluted share. The company projects Q4 revenue between $98 million and $105 million.

InterDigital has released a new report in collaboration with CCS Insight, titled Open RAN: The Long Journey from Supporting Act to Lead Role, analyzing the Open RAN ecosystem and its potential for mainstream adoption. The report discusses mobile carriers' expectations and the technological challenges ahead. Key findings show a strong interest from carriers to reduce reliance on few suppliers, but concerns remain about the complexities of unproven technology. The Open RAN initiative aims to enhance network flexibility, yet significant hurdles, including interoperability and cost issues, must be addressed for it to succeed.

InterDigital (NASDAQ: IDCC) has appointed Joshua D. Schmidt as its new Chief Legal Officer and Corporate Secretary, effective immediately. Schmidt has been with the company for six years and previously served as Deputy General Counsel, overseeing various legal functions. He succeeds Richard L. Gulino, who will retire on December 3, 2021, but will stay on as a Strategic Advisor. CEO Liren Chen expressed optimism about Schmidt's appointment, noting his deep understanding of the business and ability to lead at a crucial time in InterDigital's innovation efforts.

InterDigital partnered with Zip Code Wilmington to launch the B1ue N0te program aimed at providing coding skills to Delaware high school students. The initiative successfully trained nearly 200 students during the 2020-2021 school year and summer. Focused on underrepresented youth, B1ue N0te offers programming in JavaScript, HTML, and CSS. Participating schools expanded from three to six, demonstrating increasing interest and demand. The program prepares students for potential careers in software development, fostering skills vital for the tech industry.

InterDigital, Inc. (NASDAQ:IDCC) announced it will release its third quarter 2021 financial results on November 4, 2021, before market open. The company will conduct a conference call at 10:00 a.m. ET the same day to discuss its financial performance and other matters. Investors can join the call via an Internet webcast or by telephone. A replay of the call will be available on the company's website and via telephone from November 4 to November 9. InterDigital is known for developing mobile and video technologies crucial for global networks and services.

InterDigital announced the election of Arman Shojaeifard as Chair of the newly formed ETSI Industry Specification Group (ISG) on Reconfigurable Intelligent Surfaces (RIS). The election occurred on September 30, 2021, at the inaugural ETSI ISG RIS meeting. This group includes industry leaders from various organizations and aims to define use cases and requirements for RIS technology, a key innovation for future wireless systems, particularly 6G. The establishment of this group marks a significant step for InterDigital in influencing future wireless technologies.

Blair Watters has been promoted to Vice President of Government Relations and Standards Policy at InterDigital (NASDAQ:IDCC). This announcement comes as the company integrates its government affairs, marketing, and communications teams under Rob Stien, the new EVP, Chief Communications and Public Policy Officer. Watters will focus on U.S. policy and key technology standards like 5G. Both leaders emphasize the importance of these roles in enhancing InterDigital's position in mobile and video innovation during the rollout of advanced technologies.