Stock Track | Universal Display Stock Plunges After Revenue Miss and Lowered Guidance

Stock Track

Oct 31, 2024

Shares of Universal Display Corporation (OLED) plummeted 5.25% in after-hours trading on October 30, 2024, following the company's mixed third-quarter financial results and lowered full-year revenue guidance.

While OLED reported better-than-expected earnings of $1.40 per share for the quarter, beating analyst estimates of $1.20, its revenue of $161.6 million fell short of the consensus forecast of $165.1 million. The revenue miss overshadowed the company's 29.63% year-over-year increase in earnings per share.

More concerning for investors was OLED's revised 2024 revenue guidance range of $625 million to $645 million, down from its previous projections. The company cited recent updates to customer order expectations for the fourth quarter as the reason for the lowered outlook.

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The revenue miss overshadowed the company's 29.63% year-over-year increase in earnings per share.</p>\n\n<p>More concerning for investors was OLED's revised 2024 revenue guidance range of $625 million to $645 million, down from its previous projections. The company cited recent updates to customer order expectations for the fourth quarter as the reason for the lowered outlook.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OLED","symbol_name":"Universal Display Corporation","start_time":0,"source_url":"","article_id":"1159326049","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1159326049","pubTimestamp":1730320988,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Universal Display Corporation  plummeted 5.25% in after-hours trading on October 30, 2024, following the company's mixed third-quarter financial results and lowered full-year revenue guidance.While OLED reported better-than-expected earnings of $1.40 per share for the quarter, beating analyst estimates of $1.20, its revenue of $161.6 million fell short of the consensus forecast of $165.1 million. 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