AP NEWS
Click to copy
Click to copy

Rambus: 2Q Earnings Snapshot

July 29, 2019

SUNNYVALE, Calif. (AP) _ Rambus Inc. (RMBS) on Monday reported a loss of $37 million in its second quarter.

The Sunnyvale, California-based company said it had a loss of 33 cents per share. Earnings, adjusted for one-time gains and costs, were less than 1 cent on a per-share basis.

The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The memory chip designer posted revenue of $58.3 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $96.3 million.

Rambus shares have risen 68% since the beginning of the year. In the final minutes of trading on Monday, shares hit $12.89, a decline of almost 4% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RMBS at https://www.zacks.com/ap/RMBS

All contents © copyright 2019 The Associated Press. All rights reserved.