Shares of Universal Display (OLED) plunged 15.04% in after-hours trading on Thursday following the release of its disappointing third-quarter financial results and revised guidance. The OLED technology leader reported earnings and revenue that fell significantly short of analyst expectations, sparking concerns about the company's near-term growth prospects.

Universal Display reported Q3 earnings per share of $0.92, well below the FactSet consensus estimate of $1.21. Revenue for the quarter came in at $139.6 million, missing the analyst consensus of $164.15 million by nearly 15%. The company attributed the revenue shortfall to changes in customer mix and a $9.5 million out-of-period adjustment in royalty and license fees. Material sales also saw a slight decrease due to lower unit material volume and changes in customer mix.

Adding to investor concerns, Universal Display revised its 2025 revenue guidance to the lower end of its previous forecast range of $650 million to $700 million. This adjustment, coupled with the Q3 performance, has raised questions about the company's growth trajectory in the competitive OLED technology market. Despite these challenges, Universal Display maintained its quarterly dividend at $0.45 per share, payable on December 31 to shareholders of record as of December 17.