Here's Why Dolby Laboratories Stock Is Getting Crushed on Friday
Shares of Dolby Laboratories (NYSE: DLB) were down 13.6% at 4 p.m. EDT on Aug. 2, erasing nearly 9% in gains since the beginning of 2019 and putting the stock down almost 5% on the year. Today's big sell-off was a product of investor reaction to the company's fiscal third-quarter earnings, which came out after market close on Aug. 1.
Dolby reported revenue of $302.2 million, up 41% from last year, and earnings of $0.38 per share, nearly 13 times higher than last year's $0.03 per share income reported under generally accepted accounting principles (GAAP).
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