EWING, N.J. (AP) _ Universal Display Corp. (OLED) on Wednesday reported third-quarter profit of $37 million.
The Ewing, New Jersey-based company said it had profit of 78 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The organic light-emitting diode technology company posted revenue of $97.5 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $84.7 million.
Universal Display shares have climbed 86% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $173.65, an increase of 61% in the last 12 months.