Dolby's (DLB) Q3 Earnings Top Estimates, Revenues Decline Y/Y

Dolby Laboratories, Inc (DLB) reported third-quarter fiscal 2024 non-GAAP earnings per share (EPS) of 71 cents compared with 55 in the prior-year quarter. The bottom line surpassed the Zacks Consensus Estimate by 20.3%. Lower operating costs and higher operating income were primary growth drivers. Revenues for the quarter declined 3% year over year to $288.8 million. However, the top line beat the Zacks Consensus Estimate by 0.9%. The top line was adversely impacted by lower unit shipments of audio devices ...