05:07 PM EDT, 08/07/2024 (MT Newswires) -- Dolby Laboratories ( DLB ) reported fiscal Q3 non-GAAP earnings Wednesday of $0.71 per diluted share, up from $0.55 a year earlier.

Three analysts polled by Capital IQ expected $0.59.

Revenue for the quarter ended June 28 was $288.8 million, down from $298.4 million a year earlier.

Analysts expected EPS of $286.2 million.

The company said it expects Q4 non-GAAP EPS between $0.61 and $0.76 and revenue between $300 million and $320 million.

Analysts polled by Capital IQ expect $0.85 and $326.6 million.

The company expects fiscal 2024 non-GAAP EPS between $3.60 and $3.75 and revenue between $1.27 billion and $1.29 billion.

The previous guidance was non-GAAP EPS between $3.60 and $3.75 and revenue of about $1.3 billion. Analysts forecast fiscal 2024 normalized EPS of $3.72 on revenue of $1.29 billion.

The company declared a dividend of $0.30 per share of class A and class B common stock, payable on Aug. 27 to shareholders of record on Aug. 19.

Dolby ( DLB ) also said its board has authorized increasing the size of its share buyback plan by $350 million, which takes the amount available for future repurchases of class A shares to about $422 million.

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