SAN FRANCISCO , Aug. 7, 2024 /PRNewswire/ -- Dolby Laboratories, Inc. (NYSE: DLB ) today announced the company's financial results for the third quarter of fiscal 2024.
"Our third quarter results were in line with expectations," said Kevin Yeaman , President and CEO, Dolby Laboratories. "This quarter we continued to build momentum for the content available in Dolby Vision and Dolby Atmos, especially in sports, with viewers around the world enjoying the T20 Cricket World Cup, UEFA EURO 2024 , Wimbledon, the NHL and NBA post seasons and right now, the Olympics in Dolby." Third Quarter Fiscal 2024 Financial Highlights Total revenue was $288.
8 million , compared to $298.4 million for the third quarter of fiscal 2023. GAAP net income was $38.
4 million , or $0.40 per diluted share, compared to GAAP net income of $16.4 million , or $0.
17 per diluted share, for the third quarter of fiscal 2023. On a non-GAAP basis, third quarter net income was $68.8 million , or $0.
71 per diluted share, compared to $54.1 million , or $0.55 per diluted share, for the third quarter of fiscal 2023.
Dolby repurchased approximately 423,000 shares of its common stock and ended the quarter with approximately $72 million of stock repurchase authorization available going forward. A complete listing of Dolby's non-GAAP measures are described and reconciled to the corresponding GAAP measures at the end of this release. Recent Business Highlights Cadillac announced the 2025 OPTIQ EV with Dolby Atmos.
Electric au.