Universal Display stock rises on earnings beat


Universal Display Corp.
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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