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