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Universal Display: 3Q Earnings Snapshot

EWING, N.J. (AP) _ Universal Display Corp. (OLED) on Thursday reported third-quarter earnings of $22.8 million.

The Ewing, New Jersey-based company said it had net income of 48 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The organic light-emitting diode technology company posted revenue of $77.6 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $87.7 million.

Universal Display shares have declined 25 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $129.65, a fall of 9 percent 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