Dolby Laboratories Q4 Profit Rises

(RTTNews) - Dolby Laboratories, Inc. (DLB) Tuesday reported fourth-quarter profit of $44.2 million or $0.42 per share, up from $26.8 million or $0.26 per share last year.

On an adjusted basis, fourth-quarter profit was $60.4 million or $0.58 per share, compared to $45.8 million or $0.45 per share a year ago.

For the fourth quarter, Dolby reported total revenue of $285.0 million, up from last year's $271.2 million.

Analysts polled by Thomson Reuters expected earnings of $0.56 per share on revenues of $299.95 million for the quarter.

Looking forward to the first quarter, the company expects revenues of $345 million to $375 million and adjusted earnings of $0.98 to $1.13 per share.

Analysts currently expect earnings of $1.31 per share on revenues of $389.77 million for the first quarter.

For the full year 2022, the company expects revenues of $1.34 billion to $1.40 billion and adjusted earnings of $3.52 to $4.02 per share.

Analysts currently expect earnings of $3.94 per share on revenues of $1.37 billion for the quarter.

Dolby announced a cash dividend of $0.25 per share of Class A and Class B common stock, payable on December 8, 2021, to stockholders of record as of the close of business on November 30, 2021

DLB closed Tuesday's trading at $88.95, up $0.47 or 0.53%, on the NYSE. The stock, however, slipped $6.45 or 7.25%, in the after-hours trading.