12:26 PM EDT, 05/02/2024 (MT Newswires) -- InterDigital (IDCC) shares were rising past 5% in recent Thursday trading after the company reported Q1 financial results that came in ahead of analysts' estimates.

InterDigital reported Q1 non-GAAP earnings of $3.58 per share, down from $4.21 a year earlier.

Analysts polled by Capital IQ expected $3.35.

Revenue for the quarter ended March 31 was $263.5 million, up from $202.4 million a year earlier.

Analysts surveyed by Capital IQ expected $222.6 million.

For its initial Q2 outlook, the company said it expects non-GAAP EPS between $0.70 and $0.80 on revenue between $93 million and $97 million. Two analysts polled by Capital IQ expect normalized EPS of $0.88 and five analysts expect revenue of $109.1 million.

The company expects full year 2024 non-GAAP EPS between $7.45 and $8.76 on revenue between $620 million and $670 million. Three analysts surveyed by Capital IQ expect normalized EPS of $7.73 and four analysts expect revenue of $634.7 million.

Price: 103.15, Change: +5.25, Percent Change: +5.36