Rambus (NASDAQ: RMBS) reported Q1 EPS of ($0.08), $0.31 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $48.4 million versus the consensus estimate of $98.83 million.

• First quarter revenue and billings in line with expectations; GAAP revenue of $48.4 million, with royalty revenue of $24.8 million and licensing billings of $75.4 million
• $28.8 million in cash provided by operating activities
• DDR4 server DIMM chipset revenue up nearly 40% year-over-year, fueled by continued market share growth
• Record revenue for IP Cores business; expanded portfolio with 32G PHY for 5G infrastructure and 112G LR PHY in 7nm for 400G and 800G networking

“Rambus had a solid first quarter, with continued execution from our product teams and a strong balance sheet fueled by cash generation from operations. We have refocused and augmented our product portfolio around our core strengths in semiconductor, to enable new design wins and increased market share,” said Luc Seraphin, chief executive officer of Rambus.

For earnings history and earnings-related data on Rambus (RMBS) click here.