By Chris Wack
Adeia shares were up 26% at $17.04 after the company reported fourth-quarter earnings that beat analysts' expectations.
The intellectual property licensing company said it had quarterly earnings of $36 million, or 32 cents a share, compared with $12.7 million, or 11 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $32.4 million, or 28 cents a share.
Revenue for the quarter was $119.2 million, compared with last year's $86.9 million and the $114.2 million analysts were expecting.
The company said it has signed 10 deals during the quarter, with new customers including Amazon and Canon.
For 2025, Adeia is looking for revenue of $390 million to $430 million, while analysts are forecasting 2025 revenue of $401.9 million.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 19, 2025 10:23 ET (15:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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