Dolby Q3 revenue $289.6M (+1% YoY); GAAP EPS $0.39; authorizes $350M buyback increase

Dolby Laboratories, Inc.

2022-Q3 EPS reported $1.52 revenue$975,589,000

Revenue $289.6M vs $286.8M YoY; GAAP net income $39.6M ($0.39 diluted EPS) down from $54.6M ($0.52 EPS) in Q3 2021.
Non-GAAP net income $68.7M ($0.68 diluted EPS) vs $74.8M ($0.71) in prior year; cash from ops $172.6M.
Board increased share repurchase authorization by $350M to ~$581M available; declared $0.25/share dividend payable Aug 31, 2022.
Business highlights: Xiaomi 12S series first Android with Dolby Vision capture; Dolby Atmos Music on Tencent QQ Music in China and Melon in South Korea.
Macro uncertainties cited: COVID-19, supply chain, geopolitical instability, inflation reducing forward visibility.

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