Rambus Q3 revenue beats analyst expectations on strong customer demand
RMBS•Rambus reported third-quarter revenue of $218.29 million, up 22% year over year and above the $213.19 million analyst consensus, while adjusted EPS of $0.84 beat the $0.79 estimate. The company expects fourth-quarter non-GAAP revenue of $227 million to $233 million and diluted EPS of $0.84 to $0.92.
1. Third-quarter results
Rambus reported third-quarter revenue of $218.29 million, compared with analyst expectations of $213.19 million. Adjusted EPS was $0.84, above the $0.79 consensus; net income was $74.6 million and EPS was $0.69.
2. Demand and outlook
The company said strong customer demand in AI and data center markets drove record product revenue and cash from operations. Product revenue rose 15% quarter over quarter and 22% year over year. Rambus expects fourth-quarter non-GAAP revenue of $227 million to $233 million, non-GAAP product revenue of $127 million to $133 million, and non-GAAP diluted EPS of $0.84 to $0.92.
