Shares of Universal Display (OLED) plummeted 8.18% in Thursday's trading session following the release of its third-quarter earnings report, which revealed a significant revenue miss. The company, known for its OLED technology, reported Q3 revenue of $139.6 million, falling well short of the $163.9 million estimated by analysts according to IBES.

Despite the revenue shortfall, Universal Display posted a net income of $44 million for the quarter, with an operating income of $43.1 million. The company maintained a strong gross margin of 75%, showcasing its operational efficiency. However, investors seemed more focused on the top-line miss, which likely sparked concerns about demand for OLED technology. Looking ahead, Universal Display provided a full-year revenue outlook of $650-700 million, which may have added to investor uncertainty about the company's growth trajectory.

In light of the earnings report, Universal Display's management has scheduled meetings with Needham in New York on November 13 and with Oppenheimer in Boston on November 12. These meetings could provide an opportunity for the company to address investor concerns and offer more insights into its strategy for navigating the current market challenges. As the stock price reflects, investors will be keen to hear how Universal Display plans to boost revenue and maintain its market position in the competitive display technology sector.