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Universal Display: 3Q Earnings Snapshot

·1 min read

EWING, N.J. (AP) _ Universal Display Corp. (OLED) on Thursday reported third-quarter earnings of $40.5 million.

On a per-share basis, the Ewing, New Jersey-based company said it had net income of 85 cents.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The organic light-emitting diode technology company posted revenue of $117.1 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $95.7 million.

Universal Display expects full-year revenue in the range of $385 million to $400 million.

Universal Display shares have dropped 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $197.80, a rise of 13% in the last 12 months.

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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