AP NEWS

Rambus: 4Q Earnings Snapshot

January 27, 2020 GMT

SUNNYVALE, Calif. (AP) _ Rambus Inc. (RMBS) on Monday reported a loss of $9.5 million in its fourth quarter.

On a per-share basis, the Sunnyvale, California-based company said it had a loss of 9 cents. Earnings, adjusted for one-time gains and costs, came to 1 cent per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The memory chip designer posted revenue of $59.9 million in the period. Its adjusted revenue was $104.3 million, surpassing Street forecasts. Three analysts surveyed by Zacks expected $98 million.

For the year, the company reported that its loss narrowed to $90.4 million, or 81 cents per share. Revenue was reported as $224 million.

Rambus shares have climbed nearly 6% since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.57, an increase of 64% 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