Dolby Laboratories Stock Gains 10%+ After Hours on Sweet-Sounding fiscal Q4 Results
$Dolby Laboratories (DLB.US)$ rose more than 10% after hours after the audio-systems maker delivered fiscal Q4 earnings that were music to Wall Street's ears.
DLB gained 11.1% to trade at $78.75 shortly before 5 p.m. ET after the company reported $0.81 in fiscal Q4 earnings per share on $304.8 million in sales in the three months ended Sept. 27. That beat the $0.70 EPS on $307.9 million that analysts had reportedly forecast.
"We are pleased with the progress we made in fiscal 2024," President and CEO Kevin Yeaman said in a statement releasing the results. "As we enter fiscal 2025, we have strong momentum."
Dolby also announced a $0.33 dividend per share on Class A and B stock, payable Dec. 10 to shareholders of record as of Dec. 3's close.
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