Dolby Laboratories Q3 revenue falls more than expected
DLB•Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the software peer group is "buy"
- Wall Street's median 12-month price target for Dolby Laboratories Inc is $85.00, about 61.8% above its July 29 closing price of $52.54
- The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago
Quarterly results
- Audio technology firm's fiscal Q3 revenue declined and missed analyst expectations
- Adjusted EPS for Q3 beat analyst expectations
- Company repurchased 1.2 mln shares for $65 mln and raised buyback authorization by $350 mln
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q3 Revenue | Miss | $305 mln | $311.96 mln (4 Analysts) |
| Q3 Adjusted EPS | Beat | $0.69 | $0.67 (4 Analysts) |
| Q3 Adjusted Net Income | Beat | $65 mln | $64.07 mln (2 Analysts) |
| Q3 Net Income | $29 mln | ||
| Q3 Dividend | $0.36 |
