By Emon Reiser
Teradyne reported a 14% increase in revenue year over year during the first quarter, driven by growth in its semiconductor testing portfolio.
The automatic testing equipment maker on Monday posted net income of $98.9 million, or 61 cents a share, up from $64.2 million, or 40 cents a share, in the prior-year quarter.
Adjusted per-share earnings came in at 75 cents, ahead of the 62 cents that analysts polled by FactSet forecast.
Revenue rose to $685.7 million from $599.8 million in the year-ago quarter. Analysts had expected $681 million.
The company tests chipsets for automotive, industrial, communications, consumer, smartphones, and computer and electronic game applications.
"System-on-a-Chip $(SOC)$, primarily for mobile, was the strongest growth driver," Chief Executive Greg Smith said.
For the second quarter, the company projected revenue between $610 million to $680 million, compared with analysts' estimates of $643 million. It guided for adjusted per-share earnings of between 41 cents to 64 cents, in line with the 52 cents that analysts had forecast, according to FactSet.
Teradyne also said its board of directors increased its share repurchase program to a target of up to $1 billion by the end of 2026 from $400 million.
Shares rose 4% to $80 in after-hours trading.
Write to Emon Reiser at emon.reiser@wsj.com
(END) Dow Jones Newswires
April 28, 2025 17:35 ET (21:35 GMT)
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