Analyst Models 21.5% COVID-Based Q3 Revenue Drop for Dolby
Dougherty & Co. modeled a 21.5% year-on-year Dolby Labs revenue decline, before the company's Monday fiscal Q3 earnings report, reflecting negative impact from COVID-19 “on production volumes and the worldwide shutdown of the exhibition business.” Dolby’s application programming interface strategy…
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is “beginning to take shape,” analyst Steven Frankel wrote investors Thursday. Its technology is being integrated into applications vs. its “historic focus on devices,” Frankel said, citing news from the quarter that SoundCloud rolled out mastering with Dolby audio, Sonos’ new Arc sound bar can play Atmos music from services including Amazon Music and Tidal, and Apple’s iOS 14 will enable playback of Atmos content through AirPod Pro earphones. The first Dolby Cinema reopened in Korea since the pandemic, with two more to reopen by year-end, said the analyst.