Universal Display Q3 Revenue Misses Estimates, Down 13.6% YoY

Universal Display (OLED) missed Q3 revenue estimates, with sales falling 13.6% YoY to $139.6 million. The company's GAAP profit of $0.92 per share was 21.6% below analysts' consensus estimates. However, its outlook for the full year was close to analysts' estimates, with revenue guided to $675 million at the midpoint. The company serves major consumer electronics manufacturers and provides organic light emitting diode (OLED) technologies used in display and lighting applications.