Teradyne Inc. (NASDAQ:TER) reported first-quarter results after Tuesday's closing bell, beating analyst estimates on the top and bottom lines.
Here's a look at the details inside the report.
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Q1 Details
Teradyne reported quarterly earnings of $2.56 per share, beating the consensus estimate of $2.10 by 21.9%, according to Benzinga Pro data.
Quarterly revenue came in at $1.28 billion, which beat the Street estimate of $1.21 billion and was up from $685.68 million in the same period last year.
Teradyne said that its record-breaking quarterly results were “driven by AI-related demand strength across compute segments and memory.”
“Our Q1 results reached a new record high. With approximately 70% of our revenue tied to AI-related demand, our results reflect the strength of our wafer to AI data center strategy,” said Teradyne CEO Greg Smith.
“All of our business groups — Semiconductor Test, Product Test, and Robotics — delivered strong year-over-year growth, which we expect to continue with robust AI-driven momentum as the catalyst,” Smith added.
Looking Ahead for Teradyne
Teradyne expects second-quarter adjusted EPS of $1.86 to $2.15, versus the $1.96 analyst estimate, and revenue of $1.15 billion to $1.25 billion, versus the $1.18 billion estimate.
TER Stock Price: According to data from Benzinga Pro, Teradyne stock was down 8.72% to $347 in Tuesday's extended trading.
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