By Owen Tucker-Smith
Dolby Laboratories shares climbed after the company reported first-quarter earnings and sales ahead of Wall Street expectations.
Shares of the company, which makes entertainment audio and visual technology, were up 10% to $88.58 in Thursday trading. The stock has risen 13% this year.
The company reported first-quarter net income of $67.8 million, or 70 cents a share, compared with $67.6 million, or 69 cents a share, a year ago. It also reported adjusted earnings of $1.14 a share, compared with $1.01 a year ago. Analysts surveyed by FactSet expected $1.05 a share.
Dolby, the maker of Dolby Atmos, posted quarterly revenue of $357.0 million, up from $315.6 million a year ago. Analysts expected $346.1 million.
The company expects second-quarter revenue between $355 million and $385 million, earnings between 77 cents a share and 92 cents a share and adjusted earnings between $1.19 and $1.34 a share.
Write to Owen Tucker-Smith at owen.tucker-smith@wsj.com
(END) Dow Jones Newswires
January 30, 2025 13:54 ET (18:54 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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