Dolby Labs Q3 revenues up 16.6%
August 3, 2021
By Chris Forrester
Dolby Labs has published its Q3 financial numbers, declaring revenues for the quarter of $286.8 million (€241.4m), up 16.6 per cent year-on-year.
“With the launch of Dolby Atmos on Apple Music and Comcast delivering the Tokyo Olympics in Dolby Vision and Dolby Atmos, more people around the world are enjoying the Dolby experience than ever before,” said Kevin Yeaman, President/CEO, Dolby Labs. “As we increase our presence across a broader range of content, we are creating more reasons for deeper adoption of Dolby within devices, driving our future growth opportunities.”
Q3 cash flow from operations was $172.4 million, compared to $134.3 million for the third quarter of fiscal 2020.
Yeaman told analysts that Dolby had enjoyed considerable broadcasting success during the quarter-year. “Comcast is currently delivering NBC’s Live Tokyo Olympics coverage in both Dolby Vision and Dolby Atmos to their X1 customers. This marks the first time that the Olympics can now be enjoyed in the combined experience. Also this quarter, Euro 2020 broadcasted in Dolby Atmos across multiple broadcasters in Poland, Malaysia, across the Middle East and North Africa. And the EuroVision Song Contest was broadcast in Dolby Atmos live to viewers in the Netherlands.”
Yeaman added that Dolby’s board had approved a further $350 million of stock repurchases.