Rambus Reports Revenue Growth Amidst Declining Net Income

The stock price of chip interface technologies business Rambus fell sharply following the release of its most recent financial report. Although net income decreased to little over $36 million, the company recorded a 10$132 million. Analysts had expected higher numbers, with an estimated $139 million in revenue and a per-share net income of$0.45. Product revenue saw only a slight increase, while royalties rose significantly. Contract and other revenue fell to $19 million. Rambus released guidance for its third quarter, with product revenue expected to be between$62 and $68 million, licensing billings between$60 and $66 million, and contract and other revenue between$17 and $23 million.