Tessera Technologies (TSRA) reported third quarter EPS of $0.37 after the bell Thursday, which exceeded the consensus estimate of $0.21. Revenues came in at $66.1 million, compared to the $63.5 million reported last year. The company expects to report fourth quarter revenues of $60 million to $62 million. The stock is now down 3.76 on 38K shares.
Tessera Technologies gapped up Thursday and climbed during the first hour of trade. Shares rose further in the final 90 minutes of the afternoon and closed up by 1.58 at $26.86. The stock rebounded off of support, following over a one-week decline.
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