Dolby Laboratories Reports Q1 Earnings: Revenue Down

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Dolby Laboratories Reports Q1 Earnings Revenue Down

Dolby Laboratories, Inc. reported earnings results for the first quarter ending December 30, 2022. Revenue was down slightly from the prior year at USD 334.92 million compared to USD 351.63 million a year ago. Net income was also down slightly to USD 79.38 million compared to USD 80.01 million a year ago.

Basic earnings per share from continuing operations was USD 0.83 compared to USD 0.79 a year ago, while diluted earnings per share from continuing operations was USD 0.82 compared to USD 0.77 a year ago, showing an overall increase in profitability despite the slight decrease in revenue and net income for the quarter ended December 30, 2022. This is good news for shareholders of Dolby Laboratories and indicates that their investments are delivering returns in line with expectations despite challenging market conditions over the past year.