Tessera Technologies (TSRA) shares are trading higher this afternoon on strong Q1 results.
The microelectronics IP licensing company posted Q1 revenue of $64.3 million and GAAP profits of 20 cents a share, ahead of the Street at $61.5 million and 13 cents. On a non-GAAP basis, the company earned 35 cents a share.
For Q2, the company sees revenue of $67 million to $70 million; the Street has been expecting $64.9 million.
TSRA in late trading is up $1.47, or 6.8%, to $23.20.
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