© Reuters. Dolby Laboratories reports better fourth quarter, but shares fall 4% on weak forecasts
Dolby Laboratories (NYSE:) shares fell more than 4% in after-hours trading following the company’s fourth-quarter earnings release.
While EPS of $0.65 and revenue of $290.6 million were above consensus estimates of $0.22 and $290.18 million, respectively, the forecasts fell short of expectations.
“We ended our fiscal year on a strong note. We remain confident in our opportunity to drive long-term growth in the TV, mobile and automotive industries as Dolby-enabled content continues to proliferate and expand. “attract more consumers,” said CEO Kevin Yeaman.
For the first quarter of 2024, the company expects EPS to be between $0.80 and $0.95, compared to consensus of $1.08, and revenue to be between $300 million and $330 million. dollars, compared to the consensus of $353.67 million.
For the full year, the company forecasts EPS of $3.60 to $3.75, versus consensus of $3.77, and revenue of $1.3 billion, versus consensus. of $1.36 billion.