InterDigital Inc. more than doubled its outlook for fourth-quarter revenue, citing updated royalty reports and license agreements. The mobile technologies company now expects revenue of $258 million to $268 million for the quarter ending December, up from the guidance provided on Nov. 28 of $95 million to $99 million. The company said at that time that the outlook was based entirely of recurring revenue. The stock, which was still inactive in premarket trade, has soared 73% year to date, while the S&P 500 has gained 10%.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below