InterDigital (IDCC) reported $101.59 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 18.5%. EPS of $1.30 for the same period compares to $0.69 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $101.22 million, representing a surprise of +0.37%. The company delivered an EPS surprise of +7.44%, with the consensus EPS estimate being $1.21.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how InterDigital performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Total Recurring Revenues: $99.07 million compared to the $93.14 million average estimate based on three analysts.
- Revenues- Recurring revenues- CE, IoT/Auto: $13.43 million compared to the $12.77 million average estimate based on two analysts.
- Catch-up revenues: $2.52 million compared to the $12.13 million average estimate based on two analysts.
- Revenues- Recurring revenues- Smartphone: $85.08 million compared to the $77.04 million average estimate based on two analysts.
Shares of InterDigital have returned -4.6% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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