US Stock Movement | Q2 Earnings Exceed Expectations, Teradyne Soars Over 18%
On Wednesday, Teradyne surged over 18%, reaching a four-month high of $107.11. In terms of news, Teradyne's second-quarter performance exceeded analysts' expectations, primarily due to strong sales of semiconductor testing equipment and improved demand. The company's second-quarter profit was $78.4 million, or earnings per share of 49 cents, compared to $186.3 million, or earnings per share of $1.14, in the same period last year. Excluding certain one-time items, the adjusted earnings per share were 57 cents, higher than the FactSet analyst forecast of 54 cents. Revenue fell 11% to $651.8 million, while analysts surveyed by FactSet had predicted revenue of $650.6 million. CEO Greg Smith stated that Teradyne's semiconductor testing business performed better than expected, with sales reaching $492 million. Its system-on-chip products designed for artificial intelligence applications are the biggest growth driver. The outlook for the remainder of the year has become clearer, with demand in computing, networking, and storage areas strengthening. "We believe that artificial intelligence will drive Teradyne to achieve strong performance in the second half of the year," Smith said
According to Zhitong Finance APP, on Wednesday, Teradyne (TER.US) surged over 18%, reaching a four-month high of $107.11. In terms of news, Teradyne's second-quarter performance exceeded analysts' expectations, mainly due to strong sales of semiconductor testing equipment and improved demand. The company's second-quarter profit was $78.4 million, or earnings per share of $0.49, compared to $186.3 million, or earnings per share of $1.14, in the same period last year. Excluding certain one-time items, the adjusted earnings per share were $0.57, higher than the $0.54 predicted by FactSet analysts. Revenue fell 11% to $651.8 million, while analysts surveyed by FactSet had forecast revenue of $650.6 million.
CEO Greg Smith stated that Teradyne's semiconductor testing business performed better than expected, with sales reaching $492 million. Its system-on-chip products designed for artificial intelligence applications are the biggest growth driver. The outlook for the remainder of the year has become clearer, with demand in computing, networking, and storage areas strengthening. "We believe that artificial intelligence will drive Teradyne to achieve strong performance in the second half of the year," Smith said
