Dolby Laboratories, Inc. (NYSE:DLB) Q2 2023 Earnings Conference Call May 4, 2023 5:00 PM ET

Company Participants

Maggie O’Donnell – Head-Investor Relations

Kevin Yeaman – Chief Executive Officer

Robert Park – Chief Financial Officer

Conference Call Participants

Steven Frankel – Rosenblatt

Paul Chung – JPMorgan

Ralph Schackart – William Blair

James Goss – Barrington Research

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Dolby Laboratories’ Conference Call discussing fiscal second quarter results. [Operator Instructions] As a reminder, this call is being recorded, Thursday, May 4, 2023.

I would now like to turn the conference over to Maggie O’Donnell, Head of Investor Relations for Dolby Laboratories. Please go ahead, Maggie.

Maggie O’Donnell

Good afternoon, and welcome to Dolby Laboratories’ Second Quarter 2023 Earnings Conference Call. Joining me today are Kevin Yeaman, Dolby Laboratories’ CEO; and Robert Park, CFO.

As a reminder, today’s discussion will include forward-looking statements, including our fiscal 2023 outlook and our assumptions underlying that outlook. These statements are subject to risks and uncertainties that may cause actual results to differ materially from statements made today, including, among other things, the impact of current macroeconomic issues, COVID-19, ongoing supply chain issues, inflation, changes in consumer spending and geopolitical instability on our business. A discussion of these and additional risks and uncertainties can be found in the earnings press release that we issued today under the section captioned Forward-looking Statements, as well as in the Risk Factors section of our most recent quarterly report on Form 10-Q.

Dolby assumes no obligation and does not intend to update any forward-looking statements made during this call as a result of new information or future events. During today’s call, we will discuss non-GAAP financial measures. A reconciliation between GAAP and non-GAAP financial measures is available in our earnings press release and in the Interactive Analyst Center on the Investor Relations section of our website.

So with that introduction behind us, I will now turn the call over to Liz Krakowski [ph] who is going to be leading the conversation with Kevin.

Unidentified Company Representative

Thanks, Maggie. So Kevin, let’s get started. How are you thinking about the business in context of the macro environment?

Kevin Yeaman

Well, first and foremost, we’re going to continue to focus on what we and totally can control. We continue to execute well against each of our growth areas. There do continue to be questions about the macro environment. What I can say with confidence is that there has never been greater demand for entertainment content. There’s never been greater demand for content to be more engaging, and our consumers and partners want high-quality immersive experiences. This is our passion at Dolby. We have a proven track record of being able to adapt to a world of change and focus on the pursuit of those inspiring experiences. And that’s where we’re going to stay focused.