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Universal Display: 2Q Earnings Snapshot

EWING, N.J. (AP) _ Universal Display Corp. (OLED) on Thursday reported second-quarter net income of $43.4 million.

On a per-share basis, the Ewing, New Jersey-based company said it had profit of 92 cents.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.

The organic light-emitting diode technology company posted revenue of $118.2 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $76.9 million.

Universal Display expects full-year revenue in the range of $370 million to $390 million.

Universal Display shares have more than doubled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $208.92, more than doubling in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OLED at https://www.zacks.com/ap/OLED