NYSE$DLB

Dolby Laboratories Inc. · Q2 2020 earnings

Q2 2020 earnings · · Investor relations

Briefing

Reported second quarter fiscal 2020 financial results.

Dolby Laboratories reported total revenue of $351.8 million for the second quarter of fiscal 2020, compared to $338.3 million for the second quarter of fiscal 2019. Second quarter GAAP net income was $88.5 million, or $0.86 per diluted share, compared to GAAP net income of $73.4 million, or $0.70 per diluted share for the second quarter of fiscal 2019.

  • Total revenue was $351.8 million, compared to $338.3 million for the second quarter of fiscal 2019.
  • GAAP net income was $88.5 million, or $0.86 per diluted share, compared to GAAP net income of $73.4 million, or $0.70 per diluted share for the second quarter of fiscal 2019.
  • Non-GAAP net income was $106.6 million, or $1.04 per diluted share, compared to non-GAAP net income of $109.0 million, or $1.04 per diluted share for the second quarter of fiscal 2019.
  • Second quarter cash flows from operations was $65.7 million, compared to $48.9 million for the second quarter of fiscal 2019.

Headline financials

Total Revenue

$352M

Previous: $338M+4.0%
EPS (adj)

$1.04

Previous: $1.04+0.0%
Capital Expenditures

-$41.8M

Previous: -$56.1M+25.5%
Free Cash Flow

$46.7M

Previous: $17.4M+169.1%
Net Income

$88.5M

Previous: $73.4M+20.5%
Operating Income

$106M

Previous: $103M+2.9%
Gross Profit

$315M

Previous: $302M+4.4%
Cash & Equivalents

$725M

Previous: $727M-0.2%
Total Assets

$2.94B

Previous: $2.85B+3.4%
Stock-Based Comp

$21M

Previous: $19.2M+8.9%

Revenue & EPS history

Dolby · Revenue · Quarterly

$352M

Q2 2020+4%vs Q2 2019
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Dolby · $291M total across 2 segments · Q4 2023

  • Licensing
    $265M
  • Products and services
    $25.4M

Forward guidance

Dolby is providing third quarter fiscal 2020 estimates that incorporate certain assumptions about the potential impact of COVID-19, based upon a consideration of external and internal data and information. They are unable to provide an estimate for their fourth quarter fiscal 2020 because of a lack of visibility. Therefore, their full year financial outlook as previously stated in their first quarter fiscal 2020 earnings release and related conference call is withdrawn.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2020

Historical avgQ2 2020

-0.9%

Avg return

Earnings day

-1.2%

Avg return

5 days after

-0.5%

Avg return

30 days after

43%

29 / 68 earnings

Positive

+14.9%

Q4 2024

Best reaction

-24.2%

Q3 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026-10.5%-9.6%-13.0%
Q1 2026+1.8%+2.3%+5.6%
Q4 2025-0.0%+2.8%+2.0%
Q2 2025-1.9%-3.6%-2.5%
Q1 2025+8.3%+4.6%+1.2%
Q4 2024+14.9%+12.9%+8.6%
Q3 2024-7.6%-9.3%-6.9%
Q2 2024+5.8%+6.9%+4.4%
Q1 2024-3.5%-4.5%-1.0%
Q4 2023-8.0%-4.1%-1.3%
Q3 2023-9.8%-11.7%-3.2%
Q2 2023+2.3%+1.6%+0.8%
Q1 2023+7.4%+5.5%+3.8%
Q4 2022-1.5%-0.8%+1.0%
Q3 2022+0.9%+3.0%-5.7%
Q2 2022-9.0%-8.0%-0.9%
Q1 2022-13.8%-13.0%-17.7%
Q4 2021-1.0%+1.2%+4.0%
Q3 2021+1.6%+4.4%+4.7%
Q2 2021-6.2%-6.5%-7.7%
Q1 2021+1.7%+5.3%+12.7%
Q4 2020+3.8%+6.3%+8.4%
Q3 2020+1.9%+0.8%+2.0%
Q2 2020-5.1%-0.1%+8.7%
Q1 2020-0.5%+1.0%-5.3%
Q4 2019+5.6%+6.3%+3.2%
Q3 2019-13.6%-14.1%-9.6%
Q2 2019+0.8%+0.9%-4.2%
Q1 2019+3.1%+3.5%+3.7%
Q4 2018-3.0%-3.6%+0.4%
Q3 2018+5.3%-0.7%+11.7%
Q2 2018-7.6%-10.1%-8.5%
Q1 2018+8.5%+2.1%-3.7%
Q4 2017-5.3%-5.1%+4.1%
Q3 2017+2.4%-1.5%-8.0%
Q2 2017-0.1%-3.6%-3.9%
Q1 2017-1.6%-2.9%-0.7%
Q4 2016-3.4%-4.9%-5.9%
Q3 2016-1.0%-1.3%-1.1%
Q2 2016+12.3%
Q1 2016+10.7%
Q4 2015+2.8%
Q3 2015-5.7%
Q2 2015+9.5%
Q1 2015-7.9%
Q4 2014+0.7%
Q3 2014+2.0%
Q2 2014-8.7%
Q1 2014+1.5%
Q4 2013+2.1%
Q3 2013-1.3%
Q2 2013+4.6%
Q1 2013+1.3%
Q4 2012-3.5%
Q3 2012-14.9%
Q2 2012+14.3%
Q1 2012+6.4%
Q2 2011-2.2%
Q4 2011-2.2%
Q3 2011-24.2%
Q1 2011-2.2%
Q1 2010-2.2%
Q2 2010-1.0%
Q4 2008-1.0%
Q4 2010-1.0%
Q4 2009-4.5%
Q3 2010-4.5%
Q3 2009-4.5%

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