Rambus Jumps as Net Surges

The chipmaker's shares add 6% in the premarket after a strong third-quarter report late Thursday.
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Rambus

(RMBS) - Get Report

rose 5% early Friday after the company reported a 36% increase in third-quarter revenue on Thursday, beating top- and bottom-line analyst estimates.

The company's shares added 77 cents, or 5.1%, to $15.92 in recent trading.

Los Altos, Calif.-based Rambus reported third-quarter net income of $10.4 million, or 10 cents a share, compared with net income of $5.0 million, or 5 cents a share, in the same period a year ago.

Excluding a lower effective tax rate for the year, the chip company said net income totaled $7.7 million, or 7 cents a share. Third-quarter revenue jumped 36% from a year earlier to $38.8 million.

Analysts were expecting Rambus to earn 6 cents a share on $36.8 million in revenue in the third quarter.