logo
Plus   Neg
Share
Email

Dolby Laboratories Q3 Profit Rises

Dolby Laboratories, Inc. (DLB) Monday reported third-quarter profit of $67.3 million or $0.66 per share, up from $39.6 million or $0.38 per share last year.

Adjusted earnings for the quarter were or $0.86 per share, compared to $0.76 per share last year.

Third-quarter revenues dropped to $246.9 million from $302.2 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.27 per share and revenues of $232.61 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, Dolby expects adjusted earnings of $0.22 to $0.37 per share on revenues of $225 million to $255 million. Analysts currently estimate earnings of $0.42 per share on revenues of $251.74 million for the quarter.

For the fiscal year, the company expects adjusted earnings of $2.76 to $2.91 per share and revenues of $1.12 billion to $1.15 billion. Analysts currently estimate earnings of $2.36 per share on revenues of $1.13 billion for the full year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Discount retailer Dollar General Corp. and supermarket chain Kroger Co. on Thursday reported sharp increases in their quarterly profits on higher sales. While Dollar General's results trounced analysts' estimates, Kroger's earnings beat expectations while revenue fell short. Dollar General's profit for the third quarter surged 57 percent from last year. On January 4, 2021, Discovery plans to launch its new standalone streaming service called Discovery+ which will also offer exclusive streaming access to the BBC's award-winning natural history shows like Planet Earth, Blue Planet, and Frozen Planet. The channel is expected to offer the largest content of real-life entertainment provided by any streaming platform at launch. Boeing Co's 737 MAX, which has been grounded for long following two fatal crashes, conducted its first post-grounding flight with media onboard. American Airlines' 737 MAX flight with around 90 journalists took a 45-minute journey from Dallas, Texas, to Tulsa, Oklahoma. The redesigned jet is scheduled to start its first commercial passenger flight on December 29.
RELATED NEWS
Follow RTT