Immersion +19% on Samsung settlement, Sony deal

|About: Immersion Corporation (IMMR)|By:, SA News Editor

Immersion (NASDAQ:IMMRsoars 19% after its Q4 misses came with news the company has settled its patent infringement litigation with Samsung for undisclosed terms.

Immersion also announces that Sony Interactive Entertainment will license IMMR's advanced haptics patent portfolio for Sony's gaming and VR controller.

Based on the new agreements, Immersion raises its FY19 outlook to upside revenue of $36M to $41M (consensus: $27.12M) from $24M to $30M.

Earnings call starts at 5 PM ET with a webcast here.

Press release.

Previously: Immersion misses by $0.06, misses on revenue (May 13)

Subscribe for full text news in your inbox