InterDigital forecasts 3rd-quarter revenue above Wall Street’s expectations

InterDigital sees 3Q revenue above expectations

KING OF PRUSSIA, Pa. — Wireless technology developer InterDigital Inc. said Friday it expects third-quarter revenue to range between $88.5 million and $90.5 million, an increase of 17 percent to 20 percent year-over-year.

Analysts, on average, are expecting revenue of $86.3 million, according to a poll by Thomson Reuters.

The company, whose technologies are used in mobile devices and networks, said “strong sales at a number of our per-unit licensees and new customer agreements entered into over the past year,” are expected to boost revenue.

Shares slipped 34 cents to $26.51 in morning trading as the broader markets fell.