SAN FRANCISCO (AP) _ Dolby Laboratories Inc. (DLB) on Monday reported fiscal second-quarter earnings of $88.5 million.
On a per-share basis, the San Francisco-based company said it had net income of 86 cents.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The creator and licensor of audio, video and voice technologies posted revenue of $351.8 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $355 million.
Dolby Laboratories shares have decreased 15% since the beginning of the year. In the final minutes of trading on Monday, shares hit $58.52, a decrease of 10% in the last 12 months.