Teradyne, Inc. (NASDAQ: TER) has reported its third-quarter results for 2024, with revenue reaching $737 million, up 5% from the same period in 2023. The company's GAAP earnings per share (EPS) for Q3 2024 were $0.89, compared to $0.78 in Q3 2023. On a non-GAAP basis, EPS was $0.90, up from $0.80 in Q3 2023.
In the third quarter of 2024, Teradyne's semiconductor test revenue was $543 million, system test revenue was $73 million, wireless test revenue was $33 million, and robotics revenue was $89 million.
The CEO of Teradyne, Greg Smith, highlighted that the semiconductor test segment performed better than planned, driven by record memory revenue from high bandwidth memory (HBM) and increased demand for AI applications. Additionally, the robotics segment showed progress in recurring software and services revenue, along with advancements in the UR OEM channel.
Looking ahead, Teradyne provided guidance for the fourth quarter of 2024, forecasting revenue in the range of $710 million to $760 million. The company expects GAAP net income per diluted share to be between $0.73 and $0.91, and non-GAAP net income per diluted share to be between $0.80 and $0.97.
Teradyne's test technology aims to expedite the introduction of high-quality innovations to the market, including smart devices, medical equipment, and data storage systems. The company's robotics offerings feature collaborative and mobile robots designed to enhance productivity, safety, and cost-efficiency for manufacturers.
In 2023, Teradyne achieved revenue of $2.7 billion and currently employs over 6,400 people worldwide. Following these announcements, the company's shares moved -11.2%, and are now trading at a price of $110.44. If you want to know more, read the company's complete 8-K report here.
