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InterDigital Blows Away Analyst Expectations

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InterDigital Blows Away Analyst Expectations
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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.

Posted-In: Earnings News Legal After-Hours Center Movers Best of Benzinga

 

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