Rambus RMBS reported a new comprehensive licensing agreement Monday with STMicroelectronics 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
