Teradyne Inc

Latest Results (07.08.2024):

Revenue Performance

Teradyne Inc. reported revenue of $600 million for the first quarter of 2024, which represents a 3% decrease compared to the $618 million reported in the first quarter of 2023. This decline was primarily attributed to continued softness in the mobility sector, although it was partially offset by strong year-over-year growth in memory test.

Net Income

For the first quarter of 2024, Teradyne Inc. achieved a GAAP net income of $64.2 million, or $0.40 per diluted share. On a non-GAAP basis, the net income was $82.5 million, or $0.51 per diluted share. The non-GAAP results exclude various expenses such as stock compensation modification, acquired intangible asset amortization, and restructuring charges.

Segment Performance

In Q1 2024, Teradyne Inc.'s revenue distribution across its segments was as follows: $412 million from Semiconductor Test, $75 million from System Test, $25 million from Wireless Test, and $88 million from Robotics. The Semiconductor Test segment remained the largest contributor to the company's overall revenue.

Future Outlook

Teradyne Inc. provided guidance for the second quarter of 2024, projecting revenue between $665 million and $725 million. The company also expects GAAP net income to range from $0.90 to $1.10 per diluted share, and non-GAAP net income to be between $0.64 and $0.84 per diluted share. This outlook reflects anticipated gains from the sale of its Design Interface Solutions business.

CEO's Statement

Teradyne Inc.'s CEO, Greg Smith, highlighted that despite ongoing challenges in the mobility sector, the company experienced greater than expected demand in memory and networking driven by AI applications. He also noted that Robotics shipments met expectations and expressed optimism about new products and applications driving growth in the Robotics segment for the remainder of the year.