Rambus Q2 Profit Meets Estimate; Revenue Misses; Outlook Weak

(RTTNews) - Rambus Inc. (RMBS) reported net income for the second quarter of $6.9 million or $0.06 per share, compared to $5.0 million or $0.04 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest quarter was $16.0 million or $0.13 per share.

Revenue for the second quarter fell 5% to $72.81 million from $76.52 million a year ago, mainly due to lower royalty revenue.

Analysts polled by Thomson Reuters expected the company to earn $0.13 per share on revenue of $73.23 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts third quarter revenue to be between $73 million and $78 million. Analysts currently expect the company to post revenue of $79.01 million for the third quarter.