Dolby Laboratories Q2 Profit, Withdraws FY20 Outlook

(RTTNews) - Dolby Laboratories, Inc. (DLB) Monday reported second-quarter profit of $88.5 million or $0.86 per share, up from $73.4 million or $0.70 per share last year.

Adjusted profit for the second quarter was $106.6 million or $1.04 per share, compared to $109.0 million or $1.04 per share last year.

For the second quarter, Dolby reported total revenue of $351.8 million, compared to $338.3 million for the second quarter of fiscal 2019.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.09 per share and revenues of $361.35 million for the quarter. Analysts' estimates typically exclude special items.

Moving ahead, the company withdrew its outlook for the full year 2020 due the potential impact of Covid-19 pandemic.