Rambus: 2Q Earnings Snapshot
Jul. 30, 2018
SUNNYVALE, Calif. (AP) _ Rambus Inc. (RMBS) on Monday reported a second-quarter loss of $15.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Sunnyvale, California-based company said it had a loss of 14 cents. Earnings, adjusted for one-time gains and costs, were 21 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The memory chip designer posted revenue of $56.5 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $96.6 million.
For the current quarter ending in October, Rambus expects its per-share earnings to range from 19 cents to 25 cents.
The company said it expects revenue in the range of $45 million to $51 million for the fiscal third quarter.
Rambus shares have declined nearly 8 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.12, a climb of 1 percent in the last 12 months.