Jason Okay. everyone. good Thank and you, afternoon
the numbers. QX right I think into get we'll
$XXX million year was million million last $XXX QX compared in revenue quarter and $XXX First to QX. in
revenue of this down on minute guidance because we of quarter. partially reminder, revenue lower the in Overall product expecting higher we technologies. a adoption offset Dolby revenue was beginning by expand to recoveries, the and our some I'll year-over-year for provided And in at with be quarter and a lower line QX that was the of which in as the were
Having outlook. for when that full that, in and I the go year-over-year and growth QX the are in more we expecting said year on
quarter as I the products was $XX licensing that's $XXX ago. discussion, services were second in and back for million, said and while I $XXX the So revenue QX million, of breakdown
commentary in saw my Dolby revenues adoption first market. end partially growth by about We Vision of offset under year-over-year. from represented of was revenue total Broadcast licensing of Dolby were higher Atmos and Here's revenue about up X% on some XX% contracts. by licensing quarter. Broadcast this timing and
licensing down XX%. On of about year-to-year XX% of first a volume, lower is This XX% about and to the electronics saw On in a total driven recoveries basis adoption. sequential by some Consumer we by was due broadcast quarter. electronics increased represented licensing revenue. higher timing consumer basis about more and
On down by XX% a holiday XX%, up was timing basis about mobile but to like with for DMAs higher year, and and as about the licensing X% from devices total XX% of quarter helped over revenue increased lower was of from sequentially represented is CE this volume devices about along about Mobile and by recoveries. this seasonality as last speakers. mainly due sequential well
and year-over-year licensing Dolby XX% up by XX% QX. technologies. were mostly of sequentially These in total along driven PC the recoveries quarter. by about some up PC was represented first about by adoption with XX% increased about over higher
was On cycle. the about Cinema of down about growth was by mostly quarter. a were as total automotive. QX console and lower in due compared recoveries in life to revenue XX% the lower They licensing in basis flat XX% to Dolby sequential represented markets gaming first by due licensing to Other year-over-year offset other
didn't repeat year-over-year of last to Cinema in attributable QX. had we Dolby but $XX was QX million year's revenue QX QX $XX deals and and The and gap the to similar that Products in had million this in QX in in was $XX to we that in is services million hybrid year. last year, compares
reminder, product large as appropriate involve accounted when upfront instances, a that parameters for the amounts limited hybrid As are that have sales deals we Cinema are Dolby in met.
to was Let's XX.X% move gross non-GAAP. XX.X% on and write in to and on margins compared GAAP quarter first the in The XX.X% first in and on QX. And the a the compared downs. margin GAAP in primarily in services first gross services was to non-GAAP QX. on margins an GAAP and margins quarter basis basis was was a on the improvement expenses. operating and quarter Products XX.X% both products XX.X% a lower due Total inventory gross in non-GAAP margin product XX% to basis
range on we had quarter million the million of to about $X $XXX anticipated. end first than low tax we $X the were a in QX compared were a Operating Operating less had expenses expenses the and the little the in GAAP $XXX.X of basis in that QX. than over in of came resolution dispute favor in million from that guided, QX our property sooner million
areas also had still to just also in marketing legal in of in We activity projected lot timing. later was year. and the A is we lower the this than certain Spending programs. occur expect our
$XXX our million expenses the $XXX.X similarly in about quarter. on in compared quarter a Operating fourth first apply The made comments GAAP million non-GAAP basis were here to I to non-GAAP.
or of last basis $XX.X QX QX revenue first last compared quarter XX.X% the Operating on of XX.X% to of million was of quarter or revenue a $XX.X or $XX.X first year. the revenue in of was or of compared in XX.X% income a in to basis $XX million million year. XX.X% income million on in revenue Operating GAAP non-GAAP
items a quarter. lower The basis guidance and us The effective on because rate than of QX the during was that rate income in was a discrete benefit tax basis. GAAP tax on XX.X% non-GAAP GAAP XX.X%
million $XX.X last per $X.XX GAAP in first was year's diluted compared or in the $X.XX on basis income quarter $XX.X QX. Net or to diluted share per share million
is tax to year's tax a below we was also in related because that included QX, reform. last year-over-year million income As decrease the QX and income year's because of year net U.S. revenue expected, EPS $XX last the last benefit
GAAP taxes. a on million guidance above the share was the $XX.X or or for diluted we non-GAAP Thinking and the projected in to basis as our compares EPS in with from year. income due last expense to was though, benefited than quarter and lower Net the the And first about share, revenue quarter operating that expenses diluted guidance, trends that decrease QX of over. $XX.X million $X.XX already $X.XX per a lower per I've gone
at was lower end above guidance for expenses we upper than benefited revenues the Non-GAAP our our from range of being and EPS being from the projected. quarter we as
the QX in about the quarter, income During generated cash below driven which I operations, discussed. lower as we by million $XX was from last first year's
stock, we first over and available. billion ended bought little back quarter the a with shares with million of our in and we during ended $XXX We QX quarter of XXX,XXX authorization cash $X investments common about the stock and to still about purchase
be today dividend XX, record which per XX on XX, will payable a cash to announced $X. XXXX shareholders of share of also We February on February XXXX.
to tweak on the taxes. outlook holding unchanged move We're on the start I'll year. our a year except guided for the full income with from for small outlook and last we Let's quarter, what
million $XXX we and to million $X,XXX fiscal million total estimate to So one $X,XXX $X,XXX are to products reiterate, revenue $XXX estimated total, million. million, million. range from range from for that Within that $X,XXX the while range will licensing from services will anticipate we to to
into broadcast anticipate which incorporated will factors more full set-top and that We Atmos benefit revenues boxes. the Dolby this. in adoption are we've year that projecting largely Dolby TVs offset Here But would we recoveries outlook. Vision are from and of lower
program. the company above grow to to smart revenues and expect electronics speakers. DMAs, Consumer technologies bars grow branded our average from patent we licensing mobile our primarily In sound contributions projected from is with and from
higher with offset adoption newer licensing by technologies. And our will PC be ASPs to of In downward mix. recoveries expect this benefit we to partially from pressure increased due along from
add about In we are my in other in lower similar some of lower XXXX expect Cinema, XXXX. we already. in in reflect in screens category, that also did happening gaming new of to lifecycle the comments we recoveries FY automotive because growth the other FY Dolby and QX projecting consoles as and number a of licensing, revenues we But plan
And grow. XX% is the flat, Dolby cinema a gross to XX%. finally, the margin on projected year we and XX% while products to we and for in in to is range to for Voice projecting XX% from to range margin services, are basis products expected expect Gross GAAP from be relatively non-GAAP
Operating is from estimated expenses for basis. GAAP are for a projected a year million and to range $XX $XX non-GAAP. to from non-GAAP income on $XXX million $XXX million range million GAAP on to $XXX both and Other to $XXX the from million million basis
Based share GAAP basis to on from XX% a and basis is full $X.XX a for effective expected to year non-GAAP XX% will range a non-GAAP above, range on earnings to tax basis. a rate from per to The estimate from on on we $X.XX on $X.XX year XX% basis. $X.XX diluted from GAAP the income factors and XX% to the
numbers. cover let second me Now the quarter
FY For from we services million, range million. $XX from $XXX $XXX $XXX licensing $XXX and Within projected the that, that is we million. range to that $XX million to million to anticipate of from revenue quarter to second total range will while will XXXX, estimate million products
Dolby a means from year's QX the higher timing and technologies $XXX combination increased contract. to XX%. total of about under outlook revenue range adoption QX Last positive including that growth X% million, our reflects which of would growth revenue recoveries, was that year-over-year anticipates of revenue drivers This
minus. Gross or estimated $XXX is and plus our $XXX margins million be $XXX or non-GAAP is on QX a for GAAP $XXX around to on expenses around million a from gross XX% from to be to on minus plus million non-GAAP basis, estimated to basis and GAAP million in a estimated basis. margin XX% range QX, a Operating
XX% to $X in used projected for non-GAAP. projected to and second effective and quarter is rate both the the to income XX% million range Other from to tax $X from GAAP our quarter for range million is
$X.XX per the based estimate just that a I to basis. diluted to we and GAAP basis reviewed, combination earnings from factors a a So $X.XX share that's a of on a range will $X.XX, from $X.XX non-GAAP on on $X.XX QX
over like it hand Kevin. to So Kevin? to now, I'd
