SUNNYVALE, Calif. (AP) _ Rambus Inc. (RMBS) on Monday reported a loss of $8 million in its first quarter.
The Sunnyvale, California-based company said it had a loss of 7 cents per share. Losses, adjusted for one-time gains and costs, came to 2 cents per share.
The results did not meet 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 $64 million in the period. Its adjusted revenue was $111.4 million, beating Street forecasts. Three analysts surveyed by Zacks expected $99.3 million.
Rambus shares have fallen 7.5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $12.74, a climb of 12% in the last 12 months.