SUNNYVALE, Calif. (AP) _ Rambus Inc. (RMBS) on Monday reported a loss of $26.6 million in its first quarter.
On a per-share basis, the Sunnyvale, California-based company said it had a loss of 24 cents. Losses, adjusted for stock option expense and amortization costs, came to 8 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The memory chip designer posted revenue of $48.4 million in the period.
Rambus shares have risen 54 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $11.80, a fall of 15 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RMBS at https://www.zacks.com/ap/RMBS