AP NEWS

Dolby Laboratories: Fiscal 1Q Earnings Snapshot

January 29, 2020 GMT

SAN FRANCISCO (AP) _ Dolby Laboratories Inc. (DLB) on Wednesday reported fiscal first-quarter earnings of $48.8 million.

On a per-share basis, the San Francisco-based company said it had net income of 47 cents.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The creator and licensor of audio, video and voice technologies posted revenue of $291.9 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $286.2 million.

For the current quarter ending in April, Dolby Laboratories expects its per-share earnings to range from $1.15 to $1.21.

The company said it expects revenue in the range of $370 million to $390 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $374.9 million.

Dolby Laboratories expects full-year earnings in the range of $3.40 to $3.50 per share, with revenue ranging from $1.3 billion to $1.35 billion.

Dolby Laboratories shares have climbed slightly since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $68.84, an increase of roughly 10% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DLB at https://www.zacks.com/ap/DLB