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Mar 31, 2024
Universal Display Q1 2024 Earnings Report
Reported strong first quarter results with growth in revenue and net income.
Key Takeaways
Universal Display Corporation reported a strong start to 2024, with total revenue increasing to $165.3 million compared to $130.5 million in the first quarter of 2023. Net income rose to $56.9 million, or $1.19 per diluted share, compared to $39.8 million, or $0.83 per diluted share, in the same period last year. The company increased the lower end of its previous revenue guidance and believes that 2024 revenue will be in the range of $635 million to $675 million.
Total revenue increased to $165.3 million from $130.5 million year-over-year.
Material sales revenue grew to $93.3 million compared to $70.2 million in the previous year.
Royalty and license fees revenue increased to $68.3 million from $55.2 million year-over-year.
Net income rose to $56.9 million, or $1.19 per diluted share, compared to $39.8 million, or $0.83 per diluted share, in the prior year.
Universal Display
Universal Display
Universal Display Revenue by Segment
Revenue by Segment
Material Sales Revenue
CapyFin.comRoyalty and License Fees Revenue
CapyFin.comContract Research Services Revenue
CapyFin.com Forward Guidance
The Company has increased the lower end of its previous revenue guidance and believes that 2024 revenue will be in the range of $635 million to $675 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income