SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Dolby Laboratories Inc. (DLB) on Thursday reported fiscal third-quarter profit of $46.1 million.
On a per-share basis, the San Francisco-based company said it had net income of 48 cents. Earnings, adjusted for one-time gains and costs, were 78 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The creator and licensor of audio, video and voice technologies posted revenue of $315.5 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $303.7 million.
For the current quarter ending in September, Dolby Laboratories expects its per-share earnings to range from 61 cents to 76 cents.
The company said it expects revenue in the range of $288 million to $318 million for the fiscal fourth quarter.
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