Why Universal Display Stock Popped Today
Shares of Universal Display (NASDAQ: OLED) were up 14.6% as of 1:30 p.m. EDT Thursday after the OLED technologist announced better-than-expected third-quarter 2019 results.
Universal Display's quarterly revenue climbed 25.6% year over year to $97.5 million, including a 1.2% increase in OLED material sales (to $51.8 million) and 84.5% growth in royalty and license fee revenue (to $43 million). On the bottom line, that translated to net income of $37 million, or $0.78 per share.
For perspective, and though we don't usually pay close attention to Wall Street's demands, most analysts were looking for earnings of $0.58 per share on revenue of $85.9 million.
Source Fool.com
