Summary by Moomoo AI
Teradyne reported Q2 2024 revenue of $730 million, up 7% YoY, with net income of $186.3 million. Semiconductor Test revenue grew 14% YoY due to strength in memory and SoC demand recovery. AI applications accelerated demand from compute and memory customers, while the robotics business grew sequentially and YoY.CEO Greg Smith noted that 2024 is progressing as expected, with edge AI deployment likely to strengthen demand for test and robotics businesses mid-term. The company sold its Device Interface Solutions business to Technoprobe for $85 million.For Q3 2024, Teradyne expects revenue between $680-$740 million and non-GAAP EPS of $0.66-$0.86. The company maintains a strong financial position with $422 million in cash and cash equivalents as of June 30, 2024.
