Rambus Q3 Earnings Disappoint, Stock Drops 8.71%

Rambus (RMBS) shares fell 8.71% to $103.72 after a dismal Q3 earnings report showed flat net income at $48 million despite a 22.7% YoY increase in total revenues to $178 million. Product revenues jumped 40.9% to $178 million, while contract and other revenues rose 34% to $20.1 million. For Q4, the company expects product revenues between $94 million and $100 million and contract and other revenues between $25 million and $31 million.