NYSE$DLB

Dolby Laboratories Inc. · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Dolby's financial results for the second quarter of fiscal 2023 were announced.

Dolby Laboratories announced its financial results for the second quarter of fiscal 2023, highlighting the continued expansion of Dolby Atmos and Dolby Vision across various content ecosystems.

  • Dolby continued to expand Dolby Atmos and Dolby Vision.
  • Dolby remains focused on long-term growth opportunities.
  • Dolby is bringing its technology to more ways people experience content.
  • Dolby announced a cash dividend of $0.27 per share.

Headline financials

Total Revenue

$376M

Previous: $334M+12.4%
EPS (adj)

$1.26

Previous: $0.92+37.0%
Capital Expenditures

-$14.7M

Previous: -$26.1M+43.4%
Free Cash Flow

$81M

Previous: $10.7M+658.9%
Net Income

$95.7M

Previous: $36.7M+160.6%
Operating Income

$109M

Previous: $43.4M+152.0%
Gross Profit

$335M

Previous: $299M+12.0%
Cash & Equivalents

$688M

Previous: $900M-23.5%
Total Assets

$2.84B

Previous: $3.06B-7.4%
Stock-Based Comp

$29.8M

Previous: $27.7M+7.7%

Revenue & EPS history

Dolby · Revenue · Quarterly

$376M

Q2 2023+12.4%vs Q2 2022
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

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

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

Forward guidance

Dolby’s financial outlook relies on estimates of royalty-based revenue that take into consideration the macroeconomic effect of certain events, including supply chain constraints, the long-term impact of the COVID-19 pandemic, and consumer demand for electronic products.

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 2023

Historical avgQ2 2023

-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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