Rambus Shares Slide After Full-year Outlook
Rambus Inc. shares fell after the semiconductor memory company's full-year revenue forecast fell below Wall Street expectations. Rambus shares declined 2.1% to $10.29 on moderate volume. The company forecast revenue of $70 million to $75 million for the first quarter, and between $300 million and $315 million for the year. Analysts surveyed by FactSet had estimated $77.3 million for the first quarter and $319.1 million for the year. Rambus also reported adjusted fourth-quarter earnings of 14 cents a share on revenue of $72 million. Analysts expected earnings of 6 cents a share on revenue of $72.4 million. The company said its board authorized the buyback of up to 20 million shares.
Copyright © 2015 MarketWatch, Inc.