Rambus (RMBS) Misses Q3 EPS by 38c, Revenues Miss

Rambus (NASDAQ: RMBS) reported Q3 EPS of ($0.11), $0.38 worse than the analyst estimate of $0.27. Revenue for the quarter came in at $56.92 million versus the consensus estimate of $103 million.

• Strong quarter, delivering on revenue, exceeding expectations for profit and generating $44.1 million in cash provided by operating activities
• Memory interface chip quarterly revenue up 39% year over year; on track for over 50% full-year growth
• Micron DRAM license extended for an additional 4 years
• New stock repurchase program authorizes repurchase of 20 million shares

"With our sustained focus on cloud and data center markets, Rambus had a very solid third quarter driven by great execution across our businesses," said Luc Seraphin, chief executive officer of Rambus. "Our proven track record of cash generation and ability to deliver on revenue and profit makes us well positioned for strong top-line growth in 2021."

For earnings history and earnings-related data on Rambus (RMBS) click here.

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