Strong Licensing and Total Revenue
Licensing revenue and total revenue came in above the midpoint of the range of guidance provided, and non-GAAP earnings were just above the high end of the range.
Wide Adoption of Dolby Atmos
Over 90% of billboard 100 artists record in Dolby Atmos. Additionally, sports events like FIFA Club World Cup and Stanley Cup Finals were available in Dolby.
Automotive Segment Expansion
Partnerships with Audi, Tata, and Mahindra for Dolby Atmos in vehicles demonstrate strong market penetration in the automotive sector.
Mobile and Consumer Electronics Growth
Partnerships with Motorola and Xiaomi for Dolby Vision and Atmos in smartphones. Notably, the OPPO partnership in China for user-generated content.
Positive Financial Performance
Q3 revenue was $316 million, up 9% year-over-year; licensing revenue was $290 million, up 9% year-over-year; product and services revenue was $26 million, up 18% year-over-year.
Cash Flow and Shareholder Returns
Generated $68 million in operating cash flow; repurchased $40 million worth of stock; declared a $0.33 dividend, a 10% increase from the previous year.