Published on 3 May 2024 on Zacks via Yahoo Finance
Dolby's (DLB) Q2 Earnings and Revenues Surpass Estimates
Dolby Laboratories, Inc DLB reported second-quarter fiscal 2024 results, with non-GAAP earnings per share (EPS) of $1.27 compared with $1.26 reported in the prior-year quarter. The bottom line surpassed the Zacks Consensus Estimate of $1.17.Total revenues were $364.5 million, lower than $375.9 million in the year-ago quarter. However, the top line surpassed the Zacks Consensus Estimate by 0.7%.Management reiterated its guidance for fiscal 2024. The company expects revenues to be $1.30 billion. GAAP EPS is projected to be between $2.30 and $2.45. Non-GAAP EPS is suggested in the range of $3.60-$3.75.The Zacks Consensus Estimate for fiscal 2024 non-GAAP EPS and revenues is pegged at $3.64 and $1.3 billion, respectively.Dolby’s performance is gaining from increasing adoption of Dolby Atmos and Dolby Vision. The company expects revenues from these businesses along with imaging patents to grow by high-single digit in fiscal 2024. Management continues to forecast multi-year CAGR of 15-25% in these businesses over the medium term.
Dolby Laboratories Price, Consensus and EPS Surprise
