Dolby Laboratories DLB reported financial results for the fourth quarter of fiscal 2024 after the bell on Tuesday. Here’s a look at the key metrics from the quarter.
- Q4 Revenue: $304.81 million, versus estimates of $307.94 million
- Q4 Adjusted EPS: 81 cents, versus estimates of 70 cents
Dolby said it repurchased approximately 251,000 shares during the quarter. The company had approximately $402 million remaining under its stock repurchase authorization at the quarter’s end. The company also declared a cash dividend of 33 cents per share payable on Dec. 10 to shareholders of record as of Dec. 3.
“As we enter fiscal 2025, we have strong momentum with Dolby Atmos and Dolby Vision, our imaging patent portfolio has gotten stronger with the GE Licensing acquisition, and we are excited about our opportunity with Dolby.io, which is well positioned to provide real-time interactive experiences for sports and entertainment,” said Kevin Yeaman, president and CEO of Dolby.
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Outlook: Dolby expects first-quarter revenue to be in the range of $330 million to $360 million versus estimates of $307.94 million. The company anticipates first-quarter earnings of 96 cents to $1.11 per share versus estimates of 70 cents per share.
Dolby sees full-year 2025 revenue in the range of $1.33 billion to $1.39 billion versus estimates of $1.28 billion. The company expects full-year earnings to be between $3.99 and $4.14 per share versus estimates of $3.70 per share.
Dolby’s strong forecast appears to be helping push shares higher after hours. The company’s management team will further discuss the quarter on a call with analysts and investors at 5 p.m. ET.
DLB Price Action: Dolby shares were up 11.06% in after hours, trading at $78.75 at the time of publication Tuesday, according to Benzinga Pro.
Photo: Pixabay.
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