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Jun 30, 2024
Universal Display Q2 2024 Earnings Report
Reported solid second quarter results driven by the OLED IT adoption cycle gaining momentum.
Key Takeaways
Universal Display Corporation reported total revenue of $158.5 million for the second quarter of 2024, compared to $146.6 million in the second quarter of 2023. Revenue from material sales was $95.4 million, while revenue from royalty and license fees was $59.6 million. Net income was $52.3 million, or $1.10 per diluted share, compared to $49.7 million, or $1.04 per diluted share, in the second quarter of 2023.
Total revenue in the second quarter of 2024 was $158.5 million, up from $146.6 million in the second quarter of 2023.
Material sales revenue increased to $95.4 million, driven by strengthened demand for emitter materials.
Royalty and license fees revenue decreased to $59.6 million due to changes in customer mix.
Net income rose to $52.3 million, or $1.10 per diluted share, compared to $49.7 million, or $1.04 per diluted share, in the prior year.
Revenue by Segment
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 $645 million to $675 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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