Dolby Laboratories Inc (DLB)

Shares of Dolby Laboratories (DLB) dropped by 7.06% from $87.77 to $81.57 in the trading on Friday, Novemeber 17, 2023. The reason why DLB is down today is due to the company's announcement of weaker-than-expected guidance. Dolby Laboratories reported better-than-expected quarterly earnings of 65 cents per share, surpassing the analyst consensus estimate of 53 cents. Additionally, the company reported quarterly sales of $290.56 million, slightly exceeding the analyst consensus estimate of $290.20 million, as reported by Benzinga Pro. However, despite the positive earnings and sales figures, Dolby Laboratories provided guidance for the first quarter that fell below market expectations. The company expects first-quarter earnings to be in the range of 80 cents to 95 cents per share, which is lower than the estimated $1.08. Moreover, Dolby Laboratories anticipates total revenue to fall within a range of $300 million to $330 million, below the estimate of $353.67 million. This guidance divergence contributed to the decline in DLB's stock price.

Shares of Dolby Laboratories (DLB) dropped by 7.06% from $87.77 to $81.57 in the trading on Friday, Novemeber 17, 2023. The reason why DLB is down today is due to the company's announcement of weaker-than-expected guidance. Dolby Laboratories reported better-than-expected quarterly earnings of 65 cents per share, surpassing the analyst consensus estimate of 53 cents. Additionally, the company reported quarterly sales of $290.56 million, slightly exceeding the analyst consensus estimate of $290.20 million, as reported by Benzinga Pro. However, despite the positive earnings and sales figures, Dolby Laboratories provided guidance for the first quarter that fell below market expectations. The company expects first-quarter earnings to be in the range of 80 cents to 95 cents per share, which is lower than the estimated $1.08. Moreover, Dolby Laboratories anticipates total revenue to fall within a range of $300 million to $330 million, below the estimate of $353.67 million. This guidance divergence contributed to the decline in DLB's stock price.