Rambus Inc. RMBS, -0.59% shares dove as much as 12% in after-hours trading Monday after the semiconductor company reported first-quarter losses. Rambus reported a net loss of $26.6 million, or 24 cents a share, on revenue of $48.4 million, up from $46.4 million a year ago. After adjusting for stock-based compensation and other effects, the company reported a loss of 8 cents a share, an improvement from an adjusted loss of 10 cents a share a year ago. After closing with a 0.6% decline at $11.82, shares dropped 6% to 12% in after-hours trading following the announcement.
Rambus Inc. shares fell $0.42 (-3.55%) in after-hours trading Monday. Year-to-date, RMBS has gained 54.11%, versus a 16.66% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of MarketWatch.