Universal Display stock rises on earnings beat

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Universal Display Corp.
OLED,
-1.08%
shares rose in the extended session Thursday after the OLED screen maker’s quarterly results topped Wall Street estimates. Universal Display shares rose 4% after hours, following a 1.1% decline in the regular session to close at $237.15. The company reported fourth-quarter net income of $53.9 million, or $1.13 a share, compared with $26.4 million, or 56 cents a share, in the year-ago period. Revenue rose to $141.5 million from $101.7 million in the year-ago quarter. Analysts surveyed by FactSet had forecast 64 cents a share on revenue of $109.3 million. Universal Display forecast revenue of $530 million to $560 million for 2021, while analysts estimate revenue of $548.7 million for the year.

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