SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Dolby Laboratories Inc. (DLB) on Thursday reported fiscal first-quarter earnings of $53.3 million.
The San Francisco-based company said it had profit of 55 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.06 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.
The creator and licensor of audio, video and voice technologies posted revenue of $346.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $332.8 million.
For the current quarter ending in March, Dolby Laboratories expects its per-share earnings to range from $1.29 to $1.44.
The company said it expects revenue in the range of $375 million to $405 million for the fiscal second quarter.
Dolby Laboratories expects full-year earnings in the range of $4.30 to $4.45 per share, with revenue ranging from $1.4 billion to $1.45 billion.
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