Dolby Laboratories (DLB) reported Q1 EPS of $1.11, $0.61 better than the analyst estimate of $0.50. Revenue for the quarter came in at $334.9 million versus the consensus estimate of $307.94 million.
GUIDANCE:
Dolby Laboratories sees Q2 2023 EPS of $0.90-$1.05, versus the consensus of $0.93. Dolby Laboratories sees Q2 2023 revenue of $340-370 million, versus the consensus of $332.1 million.
Dolby is providing the following high-level estimates for the full year of fiscal 2023
- Total revenue is expected to grow low single digits year-over-year.
- GAAP operating expenses are expected to decline roughly 2% year-over-year. Non-GAAP operating expenses are expected to grow roughly 2% year-over-year.
- We expect operating margins on a GAAP basis to be roughly 19% and on a non-GAAP basis to be roughly 30%.
Dolby is providing the following estimates for its second quarter of fiscal 2023:
- Total revenue is estimated to range from $340 million to $370 million.
- Operating expenses are anticipated to range from $227 million to $237 million on a GAAP basis and from $193 million to $203 million on a non-GAAP basis.
- Effective tax rate is anticipated to range from 22% to 24% on a GAAP basis and 19% to 21% on a non-GAAP basis.
- Diluted earnings per share is anticipated to range from $0.58 to $0.73 on a GAAP basis and from $0.90 to $1.05 on a non-GAAP basis.