Why Straight Path Communications (STRP) Stock Is Higher Today

NEW YORK (TheStreet) -- Shares of Straight Path Communications  (STRP) are up 11% to $10.49 after it reported strong third quarter financial results on Monday night.

Net income was $121,000 for the there months ended April 30 compared to a loss of $880,000 int the third quarter a year ago.

Third quarter total revenue rose to $913,000 up from $285,000 in the period a year ago.

Must Read: Warren Buffett's 25 Favorite Growth Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

The company cites an increase in license agreements for its patents, including deals with  Google  ( GOOG) and Sony ( SNE).

STRP Chart

STRP data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

CBS-Viacom Battle Comes to a Head; FDA Approves Novartis Migraine Drug --ICMYI

CBS-Viacom Battle Comes to a Head; FDA Approves Novartis Migraine Drug --ICMYI

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)

Cramer and His Team Stick to Their Disciplines -- Even When It's Disappointing

Cramer and His Team Stick to Their Disciplines -- Even When It's Disappointing