By Katherine Hamilton
InterDigital share climbed after fourth-quarter earnings shot up, fueled by growing licensing deals.
The stock rose 13% to $206.12 on Thursday. It has doubled in value over the past year.
The company, which develops wireless and video technology, said profit was $133.1 million, or $4.09 a share, in the quarter ended Dec. 31, more than tripling its year-ago profit of $39.1 million, or $1.41 a share. Analysts polled by FactSet were expecting $130 million in profit.
Fourth-quarter revenue jumped 140% to $252.8 million, ahead of the $244 million expected by analysts, according to FactSet.
Momentum grew in licensing and new agreements with large device makers, Chief Executive Liren Chen said. InterDigital said it has closed 14 new license agreements over the year and now has closed license agreements worth $3.3 billion.
The company said it expects 2025 revenue to be between $660 million and $760 million with adjusted per-share earnings at $9.69 to $12.92. It increased its dividend 33% to 60 cents a share.
Earlier this week, InterDigital sued the Walt Disney Co., alleging the company's streaming platforms were using Interdigital's technology without paying for licensing.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 06, 2025 12:44 ET (17:44 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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