Stock Track | Universal Display Plummets 6.46% Intraday on Q1 Revenue Miss and Weak Guidance
Stock Track
May 01
Universal Display's stock plummeted 6.46% during Thursday's intraday trading session following the release of its first-quarter financial results.
The company reported Q1 revenue of $142.2 million, significantly below the IBES estimate of $160.7 million. Additionally, Universal Display provided full-year revenue guidance of $630-670 million, which also fell short of the $675.2 million analyst estimate.
While the company announced a $400 million share repurchase authorization and a quarterly cash dividend of $0.50 per share, these positive developments were overshadowed by the disappointing revenue performance and conservative outlook.
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