Universal Display (OLED) reported Q1 earnings late Thursday of $1.35 per diluted share, up from $1.19 a year earlier.

Analysts polled by FactSet expected $1.09.

Revenue for the quarter ended March 31 was $166.3 million compared with $165.3 million a year earlier.

Analysts surveyed by FactSet expected $156.1 million.

The company affirmed its 2025 revenue guidance of $640 million to $700 million. Analysts polled by FactSet expect $668.5 million.

Universal Display kept its quarterly dividend at $0.45 per share, payable June 30 to shareholders of record June 16.

Separately, the company said its board approved a new share repurchase program of up to $100 million of its common stock.

Universal Display shares were down 4.5% in recent premarket activity Friday.