Dolby (DLB -12%) plunges following its FQ3 miss, which had much to do with soft electronics...


Dolby (DLB -12%) plunges following its FQ3 miss, which had much to do with soft electronics demand. During its earnings call, Dolby noted PC revenue fell 10% Y/Y and consumer electronics revenue (tied to DVD/Blu-ray players) fell 19%. TV and mobile revenue rose Y/Y but fell sharply Q/Q; the former was hurt by lower shipments, and the latter by the timing of royalty payments. Dolby expects FY12 revenue of $900M-$920M and EPS of $2.35-$2.43, below a consensus of $944M and $2.57.
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