Rambus Posts Q3 EPS of 69 Cents
RMBS sits 15% above its 52-week low of $77.89.
Summary
Rambus reported third-quarter EPS of $0.69, up from $0.61 in Q2, which the company had flagged as a record quarter on $207.4M of revenue. Adjusted EPS for the quarter came in at 84 cents, on revenue of $218.3M and net income of $74.6M. The sequential step-up suggests the memory-interface and IP business kept growing through the September quarter. The print lands after the $100M accelerated share repurchase launched in August with Mizuho, a program that shrinks the share count and flatters per-share results. For the fourth quarter, Rambus guides to revenue of $227M–$233M, EPS of 68c–76c and adjusted EPS of 84c–92c, with product revenue of $127M to $133M and royalties revenue of $68M to $74M.
At the time of this announcement, RMBS was trading at $89.89 on NASDAQ in the Technology sector, with a market capitalization of approximately $9.8B. The 52-week trading range was $77.89 to $174.10. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.