/ Source: The Associated Press
Shares of InterDigital Inc., which provides technology for cell phones, slipped Friday after the company said it has lost a customer accounting for about 5 percent of its revenue in the fourth quarter.
The stock dipped 96 cents, or 2.8 percent, to $33.73 in afternoon trading.
The company's fourth-quarter revenue forecast topped Wall Street estimates, however. InterDigital said it expects revenue of $92 million to $94 million, while analysts surveyed by Thomson Reuters were looking for $91.3 million, on average.
But the company said that figure includes about $4.3 million in revenue from a customer whose contract with InterDigital is expected to end because it is being acquired.