Interdigital Inc Stock Price, News & Analysis

InterDigital (NASDAQ: IDCC) and Northeastern University's WIOT Institute announce the inaugural 6G Symposium, scheduled for October 20-21, 2020. The virtual event aims to engage leaders in discussing the future of 6G technology, featuring keynotes from industry experts like Dr. Thyaga Nandagopal and Dr. Mazin Gilbert. Participants include major companies and research organizations, emphasizing the need for collaboration in developing 6G. The symposium aims to build awareness and define key performance indicators for next-gen wireless technology.

InterDigital, Inc. (NASDAQ: IDCC) announced its revenue guidance for Q3 2020, projecting total revenue between $83 million and $88 million, which includes $1 million to $2 million in non-recurring revenue. This guidance does not account for the impact of any new patent licenses, technology solutions, or disputes that may arise before the quarter's end. The company specializes in developing mobile and video technologies, holding strategic relationships with major tech firms.

InterDigital, Inc. (NASDAQ:IDCC) reported strong second quarter results for 2020, with recurring revenue hitting $85.2 million, a 15% increase from $74.4 million in 2019. Total revenue rose to $104.5 million due to new patent agreements, notably with Huawei. Net income surged to $22.3 million ($0.72 per share), up from $7.7 million ($0.24 per share) the previous year. Operating expenses increased to $72.6 million, including $2.9 million in one-time charges. Cash provided by operating activities was $69.8 million, compared to cash used last year, marking a solid financial performance during the pandemic.

InterDigital (NASDAQ: IDCC) has filed two patent infringement lawsuits against Xiaomi in India's Delhi High Court. The first complaint asserts five patents related to 3G and 4G technologies, while the second involves three patents concerning H.265/HEVC video coding. InterDigital, with over 32,000 patents globally, has invested over 20 years in R&D for wireless technology. The company seeks compensatory and punitive damages, alongside injunctive relief to prevent further infringement unless Xiaomi agrees to a fair licensing agreement.

InterDigital (NASDAQ: IDCC) announced its involvement in the Horizon 2020 INVICTUS project, aimed at developing authoring tools for realistic digital avatars in gaming and virtual applications. The project, supported by a €1.9 million EU grant, includes partners like Ubisoft and Fraunhauffer HHI. It will create tools to capture high-resolution digital characters and enhance VR storytelling. The two-year project begins on October 1, 2020, potentially impacting the gaming and media sectors through improved avatar technology and interactive experiences.

The ABI Research report, commissioned by InterDigital, projects that nearly half the global population will be gamers by 2024, expanding from over 2.3 billion to 3.5 billion. The Asia-Pacific leads with 51% of gamers, while the Americas represent 20%. For cloud gaming operators to thrive, exploring diverse business models is essential, particularly subscription plans which users prefer. The report highlights emerging opportunities in integrating gaming into non-gaming activities, such as workplace tools and fitness apps, suggesting a significant growth potential for Gaming-as-a-Service (GaaS) as 5G and Wi-Fi technology advances.

InterDigital (NASDAQ: IDCC) has appointed Stephen J. Akerley as Vice President of Litigation, enhancing its expertise in intellectual property. Akerley brings 28 years of experience in IP litigation, specializing in standards-essential patents and FRAND issues, with a notable presence in top law firms like Dechert LLP and Mintz Levin. His expertise has been acknowledged in major publications and his recognition as a top IP litigator reinforces InterDigital’s commitment to fair licensing. This strategic addition aims to bolster discussions with potential customers and further the company's leadership in mobile and video technologies.

InterDigital, Inc. (NASDAQ: IDCC) announced a quarterly cash dividend of $0.35 per share, set to be paid on July 22, 2020, to shareholders of record as of July 8, 2020. The company specializes in mobile and video technology research and development, addressing critical technical challenges in broadband networks and multimedia. InterDigital, founded in 1972, is traded on NASDAQ and is included in the S&P MidCap 400 index, maintaining strategic relationships with top technology firms.

InterDigital, listed on NASDAQ under the symbol IDCC, held its annual shareholder meeting on June 3, 2020. Shareholders elected seven board members for a one-year term, including Joan H. Gillman and S. Douglas Hutcheson. An advisory resolution to approve executive compensation was passed, alongside the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2020. The company develops mobile and video technologies, addressing key industry challenges and holds licenses with leading tech firms. More details can be found on the company’s official website.