Welcome to our dedicated page for InterDigital news (Ticker: IDCC), a resource for investors and traders seeking the latest updates and insights on InterDigital stock.
InterDigital, Inc. (Nasdaq: IDCC) is a pioneering research and development company renowned for creating fundamental wireless technologies integral to mobile devices, networks, and services worldwide. Established in 1972, the company focuses on the development of wireless, video, and Artificial Intelligence (AI) technologies.
InterDigital’s advanced solutions play a crucial role in supporting the creation of more efficient wireless networks, enhancing multimedia experiences, and bringing new mobile broadband capabilities to billions of consumers globally. Their core business revolves around addressing the wireless bandwidth crunch and optimizing network performance through three key areas of innovation: spectrum optimization, cross-network connectivity and mobility, and intelligent data delivery techniques.
The company's technology portfolio includes substantial contributions to 5G networks and beyond, ensuring high-efficiency broadband and high-quality video delivery. In addition, InterDigital is at the forefront of AI advancements, integrating these technologies into wireless networks and multimedia delivery to create connected and immersive user experiences.
InterDigital generates the majority of its revenue from fixed-fee patent license agreements, complemented by variable royalty agreements. Geographically, their operations span the United States, China, South Korea, Japan, Taiwan, and Europe, with China being the largest market.
Recent achievements include the release of their Q4 2023 preliminary results and insightful forecasts for Q1 2024. The company's strategic licensing agreement with Samsung for video IP is expected to drive significant financial growth, with anticipated FY24 revenue ranging between $620 million and $670 million.
InterDigital actively collaborates with market participants in the wireless ecosystem to integrate its advanced technologies for field testing and commercial deployment. Their recent partnership with Broadpeak to advance volumetric content distribution exemplifies their commitment to innovation and industry collaboration.
For continuous updates and more information, visit their official website at www.interdigital.com.
InterDigital (Nasdaq: IDCC) reported exceptional Q2 2024 results, surpassing expectations and achieving an all-time record first half. The company has raised its full-year 2024 revenue guidance by $70 million to between $690 million and $740 million. Key financial highlights for Q2 2024 include:
- Revenue: $223.5 million (120% increase year-over-year)
- Net income: $109.7 million (403% increase)
- Diluted EPS: $3.93 (397% increase)
- Adjusted EBITDA: $157.7 million (194% increase)
The company's performance was driven by significant growth in smartphone revenues (125% increase) and consumer electronics, IoT, and automotive revenues (91% increase). InterDigital also returned $45.2 million to shareholders through share repurchases and dividends in Q2 2024.
InterDigital (Nasdaq: IDCC) has announced a new license agreement with Panasonic. The agreement covers InterDigital's 4G and 5G cellular, HEVC video, and WiFi patents. This deal extends the existing relationship between the two companies, highlighting the long-standing trust and respect between them. Eeva Hakoranta, Chief Licensing Officer at InterDigital, emphasized the value licensees continue to see in InterDigital's 5G portfolio, WiFi assets, and HEVC patents. This agreement demonstrates InterDigital's ongoing success in monetizing its intellectual property across various technology domains.
InterDigital (Nasdaq: IDCC), a mobile, video and AI technology R&D company, has announced the release date for its second quarter 2024 financial results. The results will be disclosed before the market opens on Thursday, August 1, 2024. Following the release, InterDigital executives will host a conference call at 10:00 a.m. Eastern Time to discuss the company's performance.
Investors and interested parties can access a live webcast of the conference call via InterDigital's website. For those preferring telephone access, a dial-in registration link is available on the company's Investors page. A replay of the conference call will be accessible on InterDigital's website for one year following the event.
The UK Court of Appeal ruled in favor of InterDigital in its FRAND licensing dispute with Lenovo, raising the licensing fees Lenovo must pay for InterDigital’s cellular SEP patents.
The court ordered Lenovo to pay an additional $55 million, bringing the total to approximately $240 million for past sales up to December 31, 2023. Lenovo's appeal was entirely rejected.
InterDigital’s Chief Legal Officer, Josh Schmidt, emphasized that this ruling enhances the recognition of InterDigital's wireless innovation and aims to balance the interests of innovators and implementers, making it harder for companies like Lenovo to delay licensing agreements.
InterDigital remains committed to securing a fair compensation agreement with Lenovo, which has been unlicensed to their cellular portfolio since early 2024.
InterDigital (Nasdaq: IDCC) announced that its 3.50% Senior Convertible Notes due 2027 are now convertible for the calendar quarter ending September 30, 2024. The current conversion rate is 12.9041 shares of common stock per $1,000 of the note's principal. Upon conversion, InterDigital will pay cash up to the principal amount and may use cash, stock, or a mix for any excess. Call spread transactions were entered to economically increase the conversion price from $77.49 to $106.35 per share, reducing the net shares issued on conversion. More information can be found in Footnote 5 of InterDigital's Form 10-Q for Q1 2024.
InterDigital (IDCC) has signed a license agreement with Google to license its cellular wireless, Wi-Fi, and HEVC video patented technologies. This agreement covers Google’s Pixel smartphones, Fitbit wearables, and other consumer electronics. Eeva Hakoranta, Chief Licensing Officer, highlighted the deal as a testament to the importance of InterDigital's technologies across various connected devices.
InterDigital and Philips will showcase their volumetric streaming technologies at AWE USA 2024, scheduled from June 18 – 20 in Long Beach, California. InterDigital, a leader in mobile, video, and AI technology, collaborates with Philips to present innovations in volumetric video codecs and streaming, enhancing immersivity in live and eSports content. These technologies allow the capture and streaming of 3D representations of real-world scenes, requiring advanced compression standards like MPEG V3C. Their showcase will highlight contributions to video standards and the delivery of volumetric content, utilizing InterDigital’s and Philips’ expertise in immersive video solutions. Their implementation will soon be available in the 5G-MAG Reference Tools repositories. InterDigital’s and Philips’ executives will also present a talk on immersive sports experiences on June 19.
InterDigital (Nasdaq: IDCC) has announced a regular quarterly cash dividend of $0.40 per share. This dividend will be payable on July 24, 2024, to shareholders who are on record by the close of business on July 10, 2024.
The announcement was made by the company's Board of Directors and highlights InterDigital's commitment to returning value to its shareholders.
InterDigital (Nasdaq: IDCC) announced its participation in two upcoming investor events. The company will present at the William Blair 44th Annual Growth Stock Conference on June 4, 2024, at 4:20 PM ET, and at the 14th Annual East Coast IDEAS Investor Conference on June 12, 2024, at 4:10 PM ET. Both events will be webcast live with archived replays available afterward. For more details, visit the Investors section of the company's website.
InterDigital, a technology research company, was awarded an injunction against Lenovo by a court in Germany for patent infringement related to 4G and 5G devices. The court found InterDigital's actions FRAND compliant, while labeling Lenovo as an unwilling licensee not adhering to FRAND principles. This decision is subject to appeal.
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