Universal Display Corporation reported its financial results for Q4 2022, with revenues of $169 million and a net income of $65 million. Looking at 2022 as a whole, revenues reached $617 million (up 11% from 2021) while net income was $210 million, up 14% from 2021. The company ended 2022 with $826 in cash and equivalents.
The company expects the OLED industry to begin a new investment cycle in 2024, but in the near term the company sees a "temporary backdrop", and so expects its 2023 revenues to be in the range of $550 million to $600 million.
Posted: Feb 25,2023 by Ron Mertens