AP NEWS

Rambus: 3Q Earnings Snapshot

November 5, 2019 GMT

SUNNYVALE, Calif. (AP) _ Rambus Inc. (RMBS) on Monday reported a loss of $17.3 million in its third quarter.

On a per-share basis, the Sunnyvale, California-based company said it had a loss of 16 cents. Losses, adjusted for stock option expense and non-recurring costs, were 3 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The memory chip designer posted revenue of $57.4 million in the period. Its adjusted revenue was $101.1 million, topping Street forecasts. Three analysts surveyed by Zacks expected $89 million.

Rambus shares have increased 83% since the beginning of the year. The stock has climbed 52% in the last 12 months.

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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