Dolby Labs beats expectations

Dolby Labs, well-known for its noise reduction technology in use in audio-video equipment, and its Dolby Digital technology in cinemas, unveiled better than expected results on April 29th. The company had Q2 revenue of $278.60 million compared to the consensus estimate of $244.77 million. The company’s quarterly revenue was up 11.8 per cent on a year-over-year basis.

“We’re pleased to report our second quarter results with revenues higher than forecast,” said Kevin Yeaman, President/CEO, Dolby Labs. “Our broadcast business continues to outperform, and we are excited to work with great partners creating amazing consumer products such as the Sony PlayStation 4, Microsoft Xbox One, and the recently unveiled Amazon Fire TV.”

In a subsequent analysts call the company said it is anticipating overall revenues for 2014 to be in the range of $930-950 million. For Q3 the range is $205-215 million, with a gross margin of some 91-92 per cent.

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