InterDigital Raises FY24 Outlook To $690M-$740M Vs. $638.71M Estimate (Prior View: $620M-$670M); Sees Adjusted EPS Of $9.70-$10.95 Vs. $5.48 Estimate (Prior View:$7.45-$8.76)
Portfolio Pulse from Benzinga Newsdesk
InterDigital has raised its FY24 revenue outlook to $690M-$740M, up from the previous range of $620M-$670M, surpassing the $638.71M estimate. The company also increased its adjusted EPS forecast to $9.70-$10.95, significantly higher than the $5.48 estimate and the prior view of $7.45-$8.76.
August 01, 2024 | 12:42 pm
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InterDigital has significantly raised its FY24 revenue and adjusted EPS outlook, surpassing analyst estimates. This positive revision indicates strong business performance and could lead to a short-term increase in the stock price.
The substantial increase in both revenue and EPS outlooks, well above analyst estimates, suggests strong business performance and growth prospects. This is likely to boost investor confidence and drive the stock price higher in the short term.
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