• News

Universal Display (OLED) Q3 2024 earnings results beat EPS expectations, miss revenue estimates

Universal Display had a mixed bag in its latest round of earnings results.

Donovan Erskine

October 30, 2024 2:52 PM

Universal Display

1

Universal Display (OLED), a leading company in digital screen technology, has released its Q3 2024 earnings report. It showed that the company managed to beat EPS expectations, but fell short of the revenue estimate.

Universal Display published its Q3 2024 earnings report late this afternoon. The company wrote down $161.6 million in revenue, which misses the expectation of $165 million. However, Universal Display made $1.40 per share, which beats the estimated number of $1.19.

“With strong year-to-date results, we are on track to achieve record revenues, earnings, and operating cash flow in 2024 as we continue our growth trajectory. The rate of growth this year, though, is expected to be more modest than previously projected. With recent updates to customer order expectations for the fourth quarter, we are lowering our 2024 revenue forecast range to $625 million to $645 million,” said Brian Millard, Vice President and Chief Financial Officer of Universal Display Corporation.

Universal Display (OLED) stock was down in after-hours trading following the release of its earnings report. Its valuation hit as low as $187 after ending the day at $203.16.

Donovan Erskine

News Editor

Donovan is a journalist from Maryland. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge film fanatic and will talk with you about movies and games all day. You can follow him on twitter @Donimals_