Adeia Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 101.4 million compared to USD 89.3 million a year ago. Net income was USD 24.23 million compared to net loss of USD 388.93 million a year ago. Basic earnings per share from continuing operations was USD 0.23. Diluted earnings per share from continuing operations was USD 0.21. Basic earnings per share was USD 0.23 compared to basic loss per share of USD 3.72 a year ago. Diluted earnings per share was USD 0.21 compared to diluted loss per share of USD 3.72 a year ago.
For the nine months, sales was USD 301.92 million compared to USD 335.64 million a year ago. Net income was USD 54.67 million compared to net loss of USD 369.61 million a year ago. Basic earnings per share from continuing operations was USD 0.51. Diluted earnings per share from continuing operations was USD 0.48. Basic earnings per share was USD 0.51 compared to basic loss per share of USD 3.55 a year ago. Diluted earnings per share was USD 0.48 compared to diluted loss per share of USD 3.5 a year ago.