InterDigital (IDCC) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.79 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.74. The company posted revenue of $107.80 million in the period, compared to analysts expectations of $101.40 million. The company’s revenue was down -2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS.
InterDigital opened for trading at $57.33 and hit $57.77 on the upside on Wednesday, eventually ending the session at $57.6, with a gain of 0.33% or 0.19 points. The heightened volatility saw the trading volume jump to 5,52,034 shares. Company has a market cap of $2,016 M.
In a different news, on Feb 24, 2016, William J Merritt (President and CEO) sold 5,000 shares at $50.00 per share price. According to the SEC, on Jul 20, 2015, Jannie K Lau (EVP, General Counsel & Sec.) sold 1,604 shares at $57.50 per share price. On Jun 22, 2015, Robert S Roath (director) sold 7,992 shares at $59.31 per share price, according to the Form-4 filing with the securities and exchange commission.
InterDigital Inc. (InterDigital) designs and develops advanced technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks including second generation (2G) third generation (3G) fourth generation (4G) and IEEE 802 related products and networks. The Company is engaged in developing cellular technologies including those related to code division multiple access (CDMA) and time division multiple access (TDMA) and orthogonal frequency division multiplexing/ orthogonal frequency division multiple access (OFDM/OFDMA) and multiple input multiple output (MIMO). The Companys wireless background includes engineering and corporate development activities that focus on solutions that apply to other wireless market segments.