Universal Display (OLED) Q4 Earnings Beat, Top Line Falls Y/Y

Universal Display Corporation (OLED) reported mixed fourth-quarter 2023 results, with the bottom line beating the Zacks Consensus Estimate but the top line missing the same. The company reported a top-line contraction year over year due to declining trends in several verticals. Constrained consumer spending in the smartphone and premium TV markets impacted net sales. However, the growing demand for OLED displays in a wide range of use cases, such as automotive, AR, VR wearables, gaming, foldable smartphones ...