Stock Track | Universal Display Dips Despite Earnings Beat as Revenue Falls Short

Stock Track

Oct 31, 2024

Shares of Universal Display Corporation (NASDAQ:OLED) plummeted 5.03% on Tuesday, amid mixed third-quarter 2024 financial results. While the company's earnings of $1.40 per share beat analyst estimates of $1.20, its revenue of $161.627 million fell short of the expected $165.058 million.

Though the stronger-than-anticipated earnings were a positive sign, the revenue miss appeared to rattle investors. Companies not meeting sales expectations can negatively impact market sentiment, as revenue growth is a key metric of a firm's health and future prospects.

Universal Display's Q3 revenue marked a 14.57% year-over-year increase, but the figure still fell short of consensus forecasts. The revenue shortfall overshadowed the company's 29.63% rise in earnings per share from the prior year.

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While the company's earnings of $1.40 per share beat analyst estimates of $1.20, its revenue of $161.627 million fell short of the expected $165.058 million.</p>\n\n<p>Though the stronger-than-anticipated earnings were a positive sign, the revenue miss appeared to rattle investors. Companies not meeting sales expectations can negatively impact market sentiment, as revenue growth is a key metric of a firm's health and future prospects.</p>\n\n<p>Universal Display's Q3 revenue marked a 14.57% year-over-year increase, but the figure still fell short of consensus forecasts. The revenue shortfall overshadowed the company's 29.63% rise in earnings per share from the prior year.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OLED","symbol_name":"Universal Display Corporation","start_time":0,"source_url":"","article_id":"1105465191","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1105465191","pubTimestamp":1730319033,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Universal Display Corporation  plummeted 5.03% on Tuesday, amid mixed third-quarter 2024 financial results. 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