Overview
- Dolby reported fiscal third-quarter net income of $28.6 million and GAAP earnings of $0.30 per share.
- Adjusted earnings were $0.69 per share, slightly above the Zacks analyst average of $0.67 but not enough to offset the revenue shortfall.
- Quarterly revenue came in at $305 million, below the Zacks survey consensus of $313.8 million and reflecting timing variability in licensing receipts.
- The company gave fiscal fourth-quarter guidance of $1.13 to $1.28 in EPS and $362 million to $392 million in revenue and full-year guidance of $4.25 to $4.40 in EPS with $1.41 billion to $1.44 billion in revenue.
- Because Dolby earns most revenue from licensing audio and video technologies to device makers and content services, investors will watch licensing deal timing and product cycles to see if the guided rebound materializes.