Universal Display reports Q2 earnings as OLED demand accelerates

Universal Display Corp. reported fiscal second-quarter earnings on July 30, with results compared against a Wall Street consensus that called for EPS of $1.03 per share.

"The company's performance reflects continued adoption of OLED technology across multiple end markets," the company said in its earnings release.

Revenue for the quarter ended June 30 rose from the year-ago period, driven by higher material sales and royalty income. The Ewing, New Jersey-based company is the leading developer of organic light-emitting diode technologies used in smartphone displays, televisions and emerging applications.

The results come as OLED adoption expands beyond premium smartphones into mid-range devices, tablets and automotive displays. Universal Display's licensing model generates recurring royalty revenue from manufacturers including Samsung Display, LG Display and BOE Technology Group.

Universal Display did not provide specific forward guidance in its earnings release. The company's next catalyst is its quarterly conference call, where management is expected to discuss demand trends across its customer base and the pace of OLED adoption in new applications.

This article is for informational purposes only and does not constitute investment advice.