Teradyne: 2Q Earnings Snapshot
NORTH READING, Mass. (AP) _ Teradyne Inc. (TER) on Tuesday reported second-quarter earnings of $101 million.
On a per-share basis, the North Reading, Massachusetts-based company said it had profit of 52 cents. Earnings, adjusted for non-recurring costs, came to 59 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The maker of wireless products, data storage and equipment to test semiconductors posted revenue of $526.9 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $506.8 million.
For the current quarter ending in October, Teradyne expects its per-share earnings to range from 59 cents to 66 cents.
The company said it expects revenue in the range of $540 million to $570 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $518.2 million.
Teradyne shares have fallen nearly 4 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $40.34, an increase of 13 percent in the last 12 months.