IRVINE, Calif. & SAN FRANCISCO - VIZIO Holding Corp. (NYSE: VZIO) has announced the integration of Dolby Atmos technology across its entire soundbar lineup for 2024, aiming to make immersive audio experiences more accessible to consumers. The lineup, which includes options starting at $99, is now available at major retailers such as Best Buy (NYSE:BBY), Amazon (NASDAQ:AMZN), Walmart (NYSE:WMT), and Sam's Club.
Dolby Atmos, known for its ability to create a multi-dimensional sound experience, allows listeners to feel surrounded by audio, adding depth and clarity to movies, music, games, and more. This latest move by VIZIO, in partnership with Dolby Laboratories , Inc. (NYSE: NYSE:DLB), marks the company as one of the first to offer Dolby Atmos across a full range of soundbars.
The collaboration between VIZIO and Dolby has previously brought Dolby Vision to VIZIO's 4K TV lineup and now extends to soundbars, enhancing the home entertainment experience. John Couling, Senior Vice President of Entertainment at Dolby, emphasized the partnership’s history in bringing high-quality audiovisual experiences to homes in North America.
VIZIO's new soundbars not only feature Dolby Atmos but also allow users to customize their audio settings via the VIZIO Mobile App. Mike O’Donnell, Chief Revenue and Strategic Growth Officer at VIZIO, expressed excitement about the product lineup, highlighting the sophisticated design and customizable sound functions.
In addition to soundbars, VIZIO's range of 4K, Quantum (NASDAQ:QMCO), and Quantum Pro Smart TVs also support Dolby Vision, which offers enhanced colors, detail, and contrast. When paired with the new soundbars, these TVs provide a comprehensive Dolby experience.
This announcement is based on a press release statement from VIZIO Holding Corp. For more information on Dolby Atmos, Dolby Vision, and the featured products, interested parties can visit the respective company websites.
In other recent news, VIZIO Holding Corp. has been the subject of several noteworthy developments. The company reported a decrease in net revenue to $353.9 million in Q1 2024, falling short of analyst expectations. The net loss widened to $12.1 million, compared to a minimal loss in Q1 2023. Despite these figures, the company's Platform+ net revenue saw a significant increase, with gross profit rising by 20% and SmartCast Average Revenue Per User (ARPU) increasing by 17% year-over-year.
In addition, Walmart Inc. has announced its intention to withdraw and refile an antitrust review application related to its planned acquisition of VIZIO. This move is often used to provide regulators with more time to review complex deals and avoid potential government lawsuits. The details of the refiling and the timeline for the new filing have not been made public.
Furthermore, Guggenheim has downgraded VIZIO's stock rating from Buy to Neutral. This decision comes despite VIZIO's Q4 results surpassing expectations, particularly with its Platform+ net revenue. The analyst from Guggenheim has removed the price target for VIZIO shares as the company nears the transaction price of $11.50 through its pending acquisition by Walmart.
InvestingPro Insights
VIZIO Holding Corp. (NYSE: VZIO) is making waves with its newest integration of Dolby Atmos technology, but what does the financial landscape look like for the company behind the innovation? With a market capitalization of $2.1 billion, VIZIO is a significant player in the consumer electronics space. The company's commitment to enhancing user experience is evident, not just in product development but also in its financial health, with a strong balance sheet that holds more cash than debt.
Investors should note that VIZIO is trading at a high earnings multiple with a P/E ratio of 124.59, which suggests a high valuation relative to the company's earnings. Despite this, VIZIO's stock generally trades with low price volatility, providing some stability for shareholders. As of the last twelve months leading up to Q1 2024, VIZIO's revenue stands at $1,677.2 million, although there has been a slight decline in revenue growth by -3.28%. This could be a point of consideration for investors looking at the company's performance trajectory.
For those looking to dive deeper into VIZIO's financials and future outlook, there are additional InvestingPro Tips available that can provide further insight. For instance, while 4 analysts have revised their earnings downwards for the upcoming period, others predict the company will remain profitable this year. With these mixed signals, it may be beneficial for potential investors to explore the full range of 15 InvestingPro Tips available at InvestingPro. And remember, using the coupon code PRONEWS24 will get you an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing even more value as you make informed investment decisions.
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