Summary by Moomoo AI
Teradyne reported Q3 2024 revenues of $737.3 million, up 4.8% year-over-year, with net income increasing 13.7% to $145.6 million. Semiconductor Test segment led growth with revenues up 9% to $542.7 million, driven by strong demand in computing and memory applications, while Robotics revenue grew 3.5% to $88.7 million. Gross margin improved 2.6 points to 59.2%.The company completed strategic transactions with Technoprobe, including selling its Device Interface Solutions business for $85 million and acquiring a 10% stake in Technoprobe for $524.1 million. Operating expenses increased to $284.4 million from $254.3 million last year, primarily due to higher spending in Semiconductor Test development and sales activities.Looking ahead, Teradyne expects compute and memory segments to drive meaningful demand in Q4 2024, helping offset weakness in the mobility test market. The company maintained its capital return program, paying $19.6 million in dividends and repurchasing $25.4 million in shares during the quarter. Cash and investments stood at $677.6 million as of quarter-end.
