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Investing.com -- Universal Display Corporation (NASDAQ:OLED) reported record second quarter financial results that exceeded analyst expectations, prompting shares to surge 3.1% as investors responded positively to the company’s performance and outlook.
The OLED technology provider posted adjusted earnings per share of $1.41 for the second quarter, significantly beating the analyst estimate of $1.17. Revenue reached $171.8 million, surpassing the consensus estimate of $161.65 million and representing an 8.4% increase compared to $158.5 million in the same quarter last year.
"We are pleased to report record financial performance in the second quarter," said Brian Millard, Chief Financial Officer and Treasurer of Universal Display Corporation. "We believe the OLED industry is entering a dynamic new phase of expansion, driven by increasing demand in the nascent OLED IT market—including tablets, laptops, and monitors."
The company’s royalty and license fees revenue jumped to $75.7 million from $59.6 million YoY, a 27% increase, which helped offset a decline in material sales. Material sales decreased to $88.7 million from $95.4 million in the second quarter of 2024, primarily due to changes in customer mix and lower unit material volume.
Universal Display raised the low end of its 2025 revenue guidance, now projecting full-year revenue of $650 million to $700 million. The midpoint of this range aligns with analyst expectations of $670.54 million.
Operating income for the quarter increased to $68.5 million compared to $56.4 million in the same period last year, while net income rose to $67.3 million from $52.3 million YoY. The company maintained a strong gross margin of 77% in the quarter, up slightly from 76% in the second quarter of 2024.
Universal Display also announced a third quarter cash dividend of $0.45 per share, payable on September 30, 2025, to shareholders of record as of September 16, 2025.
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