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UPDATE: Rambus Announces Comprehensive Agreement With STMicroelectronics, Raises Guidance, Shares Pop

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Rambus (NASDAQ: RMBS) reported a new comprehensive licensing agreement Monday with STMicroelectronics (NYSE: STM). Rambus raised its guidance following the new arrangement.

Rambus now sees second quarter revenue between $56.0 million and $58.0 million compared to the prior estimate between $53.0 and $58.0 million. The consensus Wall Street forecast sees revenue at $57.0 million for the quarter.

STMicroelectronics, in as separate release, confirmed the arrangement.

Rambus shares spiked on the news, rising 2 percent after-hours after trading lower by about 1 percent intraday.

Posted-In: News Guidance Contracts

 

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