Dolby Laboratories (DLB) Tops Q1 EPS by 16c, offers outlook

Dolby Laboratories (NYSE: DLB) reported Q1 EPS of $0.69, $0.16 better than the analyst estimate of $0.53. Revenue for the quarter came in at $315.6 million versus the consensus estimate of $312.87 million.

GUIDANCE:

Dolby Laboratories sees Q2 2024 EPS of $1.14-$1.29, versus the consensus of $1.15. Dolby Laboratories sees Q2 2024 revenue of $345-371 million, versus the consensus of $372.5 million.

Gross margins are anticipated to be approximately 90%.
Operating expenses are anticipated to range from $215 million to $225 million on a GAAP basis and from $180 million to $190 million on a non-GAAP basis.
Effective tax rate is anticipated to be roughly 23% on a GAAP basis and roughly 20% on a non-GAAP basis.
Diluted earnings per share is anticipated to range from $0.82 to $0.97 on a GAAP basis and from $1.14 to $1.29 on a non-GAAP basis.

Dolby is providing the following estimates for the full year of fiscal 2024:

Total revenue is expected to be roughly $1.30 billion.
Gross margins are anticipated to be roughly 89%.
Operating expenses are anticipated to range from $885 million to $895 million on a GAAP basis and from $740 million to $750 million on a non-GAAP basis.
Dolby expects operating margins on a GAAP basis to be roughly 20% and on a non-GAAP basis to be roughly 32%.
Diluted earnings per share is anticipated to range from $2.30 to $2.45 on a GAAP basis and from $3.60 to $3.75 on a non-GAAP basis.

For earnings history and earnings-related data on Dolby Laboratories (DLB) click here.

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