=Universal Display (OLED) reported earnings on Wed 30 Oct 19 (a/h)

Universal Display beats by $0.17, beats on revs; raises FY19 revs above consensus

Reports Q3 (Sep) earnings of $0.78 per share, $0.17 better than the S&P Capital IQ Consensus of $0.61; revenues rose 25.6% year/year to $97.5 mln vs the $85.88 mln S&P Capital IQ Consensus.

Co issues upside guidance for FY19, raises FY19 revs to $400-410 mln from $370-390 mln vs. $383.28 mln S&P Capital IQ Consensus. 

"We believe that the proliferation of OLEDs across the consumer electronics spectrum is fueling a tremendous multi-year capex cycle. As panel makers continue to shift more of their focus to OLEDs as the future of displays, we are seeing a corresponding increase in OLED investment momentum. Based on our current forecasts and industry data, we believe market growth will continue and estimate that the installed capacity base of OLEDs at the end of 2021, as measured in square meters, will increase by approximately 50% over the installed capacity base at the end of 2019."