10:35 AM EDT, 08/01/2024 (MT Newswires) -- InterDigital (IDCC) shares were up over 8% Thursday after the company reported its Q2 results and raised its full-year outlook.

Earlier, it posted Q2 non-GAAP earnings of $4.57 per share, up from $1.30 a year earlier.

Analysts polled by Capital IQ expected $0.74.

Revenue for the quarter ended June 30 was $223.5 million, compared with $101.6 million a year earlier.

Analysts polled by Capital IQ expected $99.7 million.

The company said it expects Q3 non-GAAP EPS of $0.70 to $0.80 and $94 million to $98 million in revenue. Analysts polled by Capital IQ expect $1.33 in adjusted EPS on revenue of $123.4 million.

InterDigital now expects non-GAAP EPS of $9.70 to $10.95 on revenue of $690 million to $740 million. Previously, it expected adjusted EPS of $7.45 to $8.76 on revenue of $620 million to $670 million. Analysts expect EPS of $7.96 on $638.7 million revenue.

Price: 132.97, Change: +10.21, Percent Change: +8.32