Rambus (RMBS -10.4%) gives back a large chunk of its April gains after missing Q1 estimates and...

|By:, SA News Editor

Rambus (RMBS -10.4%) gives back a large chunk of its April gains after missing Q1 estimates and guiding on its earnings call for Q2 revenue of $53M-$58M, below the $61M forecast by the one analyst providing estimates. Customer license income is expected to fall to $56M-$61M from Q1's $72.1M. The guidance is blamed on seasonality and a lack of one-time payments recognized in Q1. A 6% Q/Q increase in operating costs/expenses pressured Q1 results; they nonetheless fell 19% Y/Y, thanks to lower R&D, legal, and M&A-related expenses.