© Reuters. Dolby Laboratories reports Q4 beat, but shares drop 4% on weak guidance
Dolby Laboratories (NYSE:) shares fell more than 4% after-hours following the company’s reported Q4 results.
While EPS of $0.65 and revenues of $290.6 million came in better than the consensus estimates of $0.22 and $290.18M, respectively, guidance missed expectations.
“We finished our fiscal year on a solid note. We remain confident in our opportunity to drive long term growth in TVs, Mobile, and Automotive as Dolby enabled content continues to proliferate and attract more consumers,” said CEO Kevin Yeaman.
For Q1/24, the company expects EPS to be in the range of $0.80-$0.95, compared to the consensus of $1.08, and revenues of $300-$330M, compared to the consensus of $353.67M.
For the full year, the company sees EPS at $3.60-$3.75, versus the consensus of $3.77, and revenues at $1.3 billion, versus the consensus of $1.36B.