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Universal Display's (OLED) shares were up roughly 11% in Friday trading after the company announced a new $400 million stock repurchase plan and reported Q1 results.
The company reported Q1 earnings late Thursday of $0.76 per diluted share, down from $1.35 a year earlier.
Analysts polled by FactSet expected $1.16.
Revenue for the quarter ended March 31 was $142.2 million, down from $166.3 million a year earlier.
Analysts surveyed by FactSet expected $161.2 million.
The company lowered its 2026 revenue guidance to $630 million to $670 million from the prior forecast of $650 million to $700 million. Analysts surveyed by FactSet expect $673.6 million.
Universal Display kept its quarterly dividend at $0.50 a share, payable June 30 to holders of record June 16.
The board also authorized a new share repurchase program of up to $400 million.
Price: $96.56, Change: $+9.47, Percent Change: +10.87%