InterDigital Blows Away Analyst Expectations
InterDigital (NASDAQ: IDCC) posted fourth quarter earnings results after the bell on Wednesday. The company's earnings per share came in at $0.38, significantly more than the $0.01 estimate. Revenue was also much greater than expected at $87.9 million; the consensus estimate was for $61.17 million.
Shares were halted before earnings, but even after resuming, the resulting rally was relatively tame. Shares traded up just about two percent in the after-hours session.
InterDigital is primarily a patent company (some have labeled it a “patent troll”) that makes its money by signing licensing deals with wireless handset makers like BlackBerry (NASDAQ: BBRY) and Nokia (NYSE: NOK).
Because of its patent portfolio, and the recent legal battles between the likes of Apple (NASDAQ: AAPL) and Samsung, InterDigital has been seen by many as a potential takeover target.
Shares of InterDigital traded near $46 after-hours Wednesday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.