As a seasoned gamer with a penchant for both virtual and financial realms, I’ve learned to navigate the rollercoaster of market fluctuations with a keen eye and a steady hand. The latest earnings report from Universal Display (OLED) has stirred a mix of feelings within me – excitement for their strong year-to-date results, concern over the lower-than-expected Q3 revenue, and optimism about their projected record earnings for 2024.
As an enthusiast, I’m sharing the news about Universal Display Corporation, a pioneer in the realm of OLED (Organic Light-Emitting Diodes) technology, unveiling their Q3 2024 financial report. Surprisingly, they outperformed Earnings Per Share (EPS) predictions, but their revenue fell slightly shy of the estimated mark.
In the afternoon hours, Universal Display released its third-quarter earnings report for 2024. The company reported a revenue of approximately $161.6 million, falling short of the anticipated $165 million. Yet, the company managed to exceed expectations with an earned profit of $1.40 per share, as opposed to the projected $1.19 per share.
According to Brian Millard, Vice President and CFO of Universal Display Corporation, we’re looking good with impressive year-to-date outcomes. We’re on a path to hit unprecedented revenue, earnings, and cash flow levels in 2024 as our growth trend continues. However, the pace of this growth for the rest of the year is predicted to be slower than initially anticipated. This adjustment comes following updates to customer order expectations for Q4. As a result, we’re revising our 2024 revenue projection range downwards from $650 million to $675 million to a new range of $625 million to $645 million.
In post-market trading, shares of Universal Display Corporation (OLED) dipped due to their latest earnings report release. The stock’s value dropped to a minimum of $187 from its closing price of $203.16 for the day.
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2024-10-31 00:57