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Xiaomi – InterDigital, Inc. (NASDAQ:IDCC), (XIACF) – InterDigital Q2 Revenue Declines 16% As Patent Royalties Decrease 15%

Henry Romero by Henry Romero
August 6, 2021
in Xiaomi
0
Xiaomi – InterDigital, Inc. (NASDAQ:IDCC), (XIACF) – InterDigital Q2 Revenue Declines 16% As Patent Royalties Decrease 15%

Xiaomi – InterDigital, Inc. (NASDAQ:IDCC), (XIACF) – InterDigital Q2 Revenue Declines 16% As Patent Royalties Decrease 15%

InterDigital Q2 Revenue Declines 16% As Patent Royalties Decrease 15%
  • InterDigital Inc (NASDAQ: IDCC) reported a second-quarter FY21 revenue decline of 16% year-on-year to $87.7 million, beating the analyst consensus of $84.3 million.
  • Recurring revenue declined 8.3% Y/Y to $78.1 million due to the exit of a handset manufacturer and the absence of non-current patent royalties from a fixed-fee patent license agreement.
  • Total patent royalties declined 14.8% Y/Y to $86.2 million, and Fixed-fee royalty revenue reduced 10.4% Y/Y to $69.3 million.
  • InterDigital posted an operating loss of $(3.1) million due to higher restructuring costs.
  • EPS of $0.05 beat the analyst consensus loss of $(0.15).
  • InterDigital used $27.3 million in operating cash flow and held $837.7 million in cash and equivalents.
  • InterDigital recently inked a multi-year, worldwide, non-exclusive, royalty-bearing license with Xiaomi Corp (OTC: XIACF) (OTC: XIACY).
  • Xiaomi‘s coming on board as a new licensee and the continued efforts to license other companies helped InterDigital grab 55% of the worldwide smartphone market under license, CEO Liren Chen stated.
  • Price action: IDCC shares traded higher by 0.22% at $69.08 on the last check Thursday.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

[Xiaomi – InterDigital, Inc. (NASDAQ:IDCC), (XIACF) – InterDigital Q2 Revenue Declines 16% As Patent Royalties Decrease 15%

Tags: Xiaomi

Henry Romero

Henry Romero

Henry covering technology and reviewing consumer products. Previously he was the Tech editor at ICO Stamp steering coverage and reviews of Tech Products. He graduated from London School with a bachelor's degree in English and journalism.

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