InterDigital (IDCC) Q3 Profit Falls 28%, But Shares Move Higher on Beat

Shares of InterDigital (Nasdaq: IDCC) are now up about 6 percent in after-hours trade following the company's third-quarter earnings report.

The company issued net income of $26.2 million, down 26 percent from the $35.2 million posted in the same quarter last year. On a per-share basis, earnings fell 28 percent from 79 cents to 57 cents. The Street was looking earnings of 41 cents per share.

Sales tumbled almost 17 percent from $91.92 million in the year-ago quarter to $76.5 million. Analysts were expecting sales of $72.67 million.

Amid recent takeover speculation, InterDigital President and CEO William Merritt said, "While executing on our business plan, the company’s board of directors also continues to thoroughly explore and evaluate potential strategic alternatives for the company, which may include a sale or other transaction."

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