Summary by Moomoo AI
Teradyne reported strong Q2 2024 financial results with revenues increasing 6.7% to $729.9 million, compared to $684.4 million in Q2 2023. Net income surged 55.2% to $186.3 million, or $1.14 per diluted share. The quarter included a $57.5 million gain from the sale of its Device Interface Solutions business to Technoprobe.Semiconductor Test segment led growth with revenues up 14.3% to $542.6 million, driven by higher tester sales for computing, ADAS, and memory applications. Robotics segment revenues grew 26% to $90.2 million on increased demand for collaborative robotic arms and autonomous mobile robots. However, System Test revenues declined 35.5% to $60.8 million, while Wireless Test dropped 17.1% to $36.3 million.The company maintained strong profitability with a gross margin of 58.3% and operating margin of 28.8%. During the quarter, Teradyne returned $27.2 million to shareholders through dividends and share repurchases. The company expects compute and memory applications to drive meaningful demand in second half 2024, while anticipating a mobility market recovery in 2025.
