As display technology continually shifts deeper into reliance on organic light emitting diode (OLED) technology, so too does the reliance on the leading developers and manufacturers of such technologies remain important. Universal Display Corporation, one of the leading developers of this tech, just released its most recent quarterly earnings results and, though not catastrophic, the company fell short of a few expectations in Q3 2021.
Universal Display Corporation (OLED) released its Q3 2021 earnings results on its investor relations website on November 4, 2021. Though the company boasted a record revenue of $143.6 million USD this previous quarter, it still fell short of whisper number expectations set at $145.83 million. Likewise, earnings-per-share (EPS) fell short of expectations. The company posted $0.97 cents EPS versus $1.09 target and $1.04 whisper number expectation. Despite these misses, the company still reaffirmed its guidance on the fiscal year of a revenue window between $530 million and $560 million.
Much of Universal Display Corporation’s main revenue was delivered by higher royalty and license cost paid to the company for use of its technology. High demand for OLED panels throughout the quarter also helped to boost revenue for the company. Despite missing certain expectations, Universal Display seems more than certain in its ability to continue to deliver on its technology and products. Interestingly, where many tech and video game companies throughout both industries have reported issues with the global semiconductor shortage or issues with supply chain congestion, Universal Display shared no sign of such issues affecting its production or business. It is unknown from its recent reporting if COVID-19 has had any affect on its manufacturing, shipping, or resources, either.
Nonetheless, despite a record quarter, Universal Display didn’t manage to climb above its expectations this previous quarter. Even so, its recent record-setting revenue in the quarter means it’s unlikely the company has anything to fear just yet. Stay tuned for more quarterly earnings results reporting right here at Shacknews.