DLB - Dolby Laboratories Non-GAAP EPS of $1.26 beats by $0.29 revenue of $375.9M beats by $26.05M

2023-05-04 16:34:21 ET

• Dolby Laboratories press release ( NYSE: DLB ): Q2 Non-GAAP EPS of $1.26 beats by $0.29 .
• Revenue of $375.9M (+12.4% Y/Y) beats by $26.05M .
• Dolby is providing the following high-level estimates for the full year of fiscal 2023:
• Total revenue is expected to range from $1.27 billion to $1.33 billion vs $1.29B consensus
• Gross margin percentages are anticipated to be roughly 88% on a GAAP basis and on a non-GAAP basis.
• 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.
• Dolby expects operating margins on a GAAP basis to be roughly 19% and on a non-GAAP basis to be roughly 30%.
• Diluted earnings per share is anticipated to range from $2.01 to $2.51 on a GAAP basis and from $3.15 to $3.65 on a non-GAAP basis vs $3.43 consensus.
• Dolby is providing the following estimates for its third quarter of fiscal 2023:
• Total revenue is estimated to range from $285 million to $315 million vs $303.92M consensus
• Gross margin percentages are estimated to be roughly 86% on a GAAP basis and 86% to 87% on a non-GAAP basis.
• Operating expenses are anticipated to range from $227 million to $237 million on a GAAP basis and from $195 million to $205 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 $0.18 to $0.33 on a GAAP basis and from $0.47 to $0.62 on a non-GAAP basis vs $0.71 consensus.

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