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Universal Display (OLED) Q1 2022 earnings results beat revenue and EPS expectations

Universal Display (OLED) reported their Q1 2022 earnings results, beating both revenue and EPS expectations.

Bill Lavoy

May 5, 2022 1:16 PM

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Universal Display (OLED) announced their Q1 2022 earnings results today. The company beat both revenue and EPS expectations while also announcing a cash dividend.

Universal Display expectations were for 95 cents per share but came in at $1.05 per share. Revenue was expected to be $144.46 million and came in at $150.5 million. Below are some of the standout points from the Universal Display release:

• Total revenue in the first quarter of 2022 was $150.5 million as compared to $134.0 million in the first quarter of
  2021
• Revenue from material sales was $86.7 million in the first quarter of 2022 as compared to $79.8 million in the first
  quarter of 2021
• Revenue from royalty and license fees was $59.8 million in the first quarter of 2022 as compared to $50.9 million in
  the first quarter of 2021
• Cost of materials was $29.9 million in the first quarter of 2022 as compared to $21.0 million in the first quarter of
  2021
• Operating income was $62.3 million in the first quarter of 2022 as compared to $63.6 million in the first quarter of
  2021
• Net income was $50.0 million or $1.05 per diluted share in the first quarter of 2022 as compared to $51.7 million or
  $1.08 per diluted share in the first quarter of 2021

Sidney D. Rosenblatt, Executive Vice President and Chief Financial Officer of Universal Display Corporation had this to say regarding the Q1 2022 results:

Worth noting is that the Universal Display Corporation stock is up in afterhours. They company also announced a cash dividend, which could be an indication that the company is confident in their cash flow going forward. You can read more about their Q1 2022 results using the Universal Display Corporation topic on Shacknews, or you can check out our earnings report topic for more coverage on technology and gaming companies in general.

Bill Lavoy

Managing Editor

Bill, who is also known as Rumpo, is a lifelong gamer and Toronto Maple Leafs fan. He made his mark early in his career through guide writing and a deep understanding of editorial SEO. He enjoys putting in the work to create a great content, be it a wild feature or grinding out an in-depth collectible guide. Tweet him @RumpoPlays if you have a question or comment about one of his articles.