- Dolby Labs (NYSE:DLB) reports fiscal Q3 beats with revenue up 16% Y/Y to $286.8M and $0.71 EPS.
- Q3 cash flows from operations was $172.4 million, compared to $134.3 million in last year's quarter.
- "The volume of shipments, aggregated across various end markets and devices, continues to be impacted and difficult to predict because of economic uncertainty due to COVID-19. The global cinema market has been adversely impacted by COVID-19, and it remains uncertain when and where cinemas will resume operating at full capacity".
- Dolby also announced that its Board of Directors has approved increasing the size of its stock repurchase program by $350 million.
- For Q4, Dolby expects Non-GAAP EPS of $0.47-0.62 (consensus: $0.66) and revenue in the range of $280-310M (consensus: $304.83M); Gross margin percentages are anticipated to range from 88% to 89% on a GAAP basis and from 89% to 90% on a non-GAAP basis.
- DLB shares are down 3.1% premarket.
- Previously (July 29): Dolby Laboratories EPS beats by $0.23, beats on revenue