Shares of Universal Display (OLED) plunged 15.04% in Thursday's trading session following the release of its disappointing third-quarter financial results. The company, a leader in OLED technology, reported earnings and revenue that fell significantly short of analyst expectations, raising concerns about its 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 projection of $164.15 million by a wide margin. The company attributed the revenue shortfall to a decrease in royalty and license fees, citing changes in customer mix and a $9.5 million out-of-period adjustment. Additionally, material sales saw a slight decline 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 suggests potential challenges in meeting growth expectations in the competitive OLED technology market. Despite these setbacks, the company maintained its quarterly dividend at $0.45 per share, payable on December 31 to shareholders of record as of December 17. As the market digests this news, investors will be closely watching Universal Display's upcoming meetings with analysts for further insights into the company's strategy to navigate current headwinds and maintain its market position.