InterDigital, Inc. IDCC reported healthy second-quarter 2022 results, with both the bottom line and top line beating the respective Zacks Consensus Estimate. The company expects this growth momentum to continue in the forthcoming quarters with a multi-year, worldwide, non-inclusive, fee-bearing license agreement with Amazon.Net IncomeNet income in the June quarter was $21.1 million or 69 cents per share compared with $1.6 million or 5 cents per share in the prior-year quarter. The bottom line surpassed the Zacks Consensus Estimate of 11 cents.InterDigital, Inc. Price, Consensus and EPS Surprise InterDigital, Inc. price-consensus-eps-surprise-chart | InterDigital, Inc. QuoteQuarter DetailsTotal revenues improved to $124.7 million from $87.7 million in the prior-year quarter, showing continuous licensing momentum. The top line beat the consensus estimate of $122 million.Recurring revenues in the second quarter of 2022 were $100.1 million, up from $78.1 million a year ago. The year-over-year increase was primarily driven by new patent license agreements inked during the quarter. InterDigital exhibited continuing licensing momentum and strength in its recurring revenue base. It addition to Amazon, it inked licensing agreements with Zebra Technologies in the quarter, which contributed to top-line growth.Total operating expenses decreased to $74.8 million from $90.9 million in the prior-year quarter, resulting in an operating income of $49.9 million and an operating loss of $3.1 million, respectively.Cash Flow & LiquidityIn the first six months of 2022, InterDigital utilized $51.7 million of cash in operating activities compared with cash utilization of $37.1 million in the prior-year period. As of Jun 30, 2022, the company had $833.5 million in cash and cash equivalents with $604.2 million of long-term debt. The company repurchased 1.2 million shares for $74.4 million during the quarter.Q3 ViewFor the third quarter of 2022, InterDigital expects recurring revenues to be between $96 million and $100 million. Total operating expenses are expected to lie within $76-$80 million.Zacks Rank & Other Stocks to ConsiderInterDigital currently has a Zacks Rank #2 (Buy).Clearfield, Inc. CLFD, sporting a Zacks Rank #1 (Strong Buy), is another solid pick for investors. You can see the complete list of today’s Zacks #1 Rank stocks here.Clearfield delivered an earnings surprise of 33.9%, on average, in the trailing four quarters. Earnings estimates for the current year for the stock have moved up 101.9% since August 2021. Over the past year, Clearfield has gained a solid 143%.Motorola Solutions, Inc. MSI carries a Zacks Rank #2. It has a long-term earnings growth expectation of 9% and delivered an earnings surprise of 7.4%, on average, in the trailing four quarters.As a leading provider of mission-critical communication products and services worldwide, Motorola has ensured a steady revenue stream from this niche market. The communications equipment maker intends to boost its position in the public safety domain by entering into strategic alliances with other players in the ecosystem.Aviat Networks, Inc. AVNW carries a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has been revised 18.7% upward since August 2021.Aviat Networks pulled off a trailing four-quarter earnings surprise of 17.4%, on average. It has soared 202.2% in the past two years. Free: Top Stocks for the $30 Trillion Metaverse Boom The metaverse is a quantum leap for the internet as we currently know it - and it will make some investors rich. Just like the internet, the metaverse is expected to transform how we live, work and play. Zacks has put together a new special report to help readers like you target big profits. The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks reveals specific stocks set to skyrocket as this emerging technology develops and expands.Download Zacks’ Metaverse Report now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Motorola Solutions, Inc. (MSI): Free Stock Analysis Report InterDigital, Inc. (IDCC): Free Stock Analysis Report Aviat Networks, Inc. (AVNW): Free Stock Analysis Report Clearfield, Inc. (CLFD): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research