-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：杜比公司2026財年第二季（3月至季）業績表現強勁，銷售額達3.96億美元（年成長7%），非GAAP每股收益為1.37美元，略高於市場普遍預期的3.86億美元/1.34美元，儘管宏觀經濟不確定性對消費產業帶來壓力。廣播業務成長最為強勁，營收達1.19億美元（年增26.5%），佔授權收入的32%；行動業務收入則有所放緩，為9,420萬美元（年減6%），與第一季22%的成長率相比出現顯著下降。獲利能力承壓，毛利率從90.3%降至88.7%，營業利益率從29.2%降至28.5%。第三季業績指引令人失望，營收中位數為3.1億美元，每股盈餘中位數為0.635美元，遠低於市場預期（3.44億美元/0.98美元）。不過，2026財年業績指引維持在14億至14.5億美元營收/4.30至4.45美元，接近市場預期（14.2億美元/4.39美元）。我們預期行動業務將受到記憶體短缺的挑戰，但最低銷售承諾能起到一定的緩衝作用。鑑於第三季前景疲軟，我們擔心管理層對第四季銷售過於樂觀，尤其是在記憶體供應仍受限的情況下。
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