Rambus reported third-quarter results after the market closed Monday, Oct. 26. Revenue was a record $218.3 million, up from $178.5 million a year earlier. Non-GAAP earnings were 84 cents a share and GAAP earnings were 69 cents, up from 44 cents. Investing.com put analysts' expectations at 79 cents a share on $213.21 million in revenue.
Where the money came from
- Product revenue: a record $114.3 million, up 22% from a year earlier
- Royalties: $77.0 million
- Contract and other revenue: $27.0 million
- Cash from operations: a record $102.5 million
The outlook
For the fourth quarter, Rambus expects revenue of $227 million to $233 million, product revenue of $127 million to $133 million, and adjusted EPS of 84 to 92 cents. Investing.com said the midpoints of the revenue and EPS ranges are slightly above consensus. Even so, the shares fell 1.8% in after-hours trading Monday.
"Rambus delivered record quarterly revenue and earnings that exceeded our guidance, with strong customer demand driving record product revenue and record cash from operations," CEO Luc Seraphin said. During the quarter Rambus expanded its offerings for AI and data-center systems, including a power-management chip for LPDDR6 SOCAMM2 memory modules and data-center-class Root of Trust security IP.