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Apr 02, 2023
Teradyne Q1 2023 Earnings Report
Teradyne's first quarter results were reported with revenue and earnings exceeding the midpoint of Q1 guidance.
Key Takeaways
Teradyne reported Q1 2023 revenue of $618 million, a decrease of 18% compared to Q1 2022. GAAP EPS was $0.50, and non-GAAP EPS was $0.55. The company returned $110 million to shareholders through share repurchases and dividends.
Revenue and earnings surpassed the midpoint of Q1 guidance.
Q1 2023 revenue reached $618 million, reflecting an 18% decrease from Q1 2022.
Shareholders received $110 million through share repurchases and dividends in Q1 2023.
The company anticipates stronger demand in automotive and industrial semiconductor test, which is expected to partially offset the ongoing weakness in smartphone-related end markets.
Teradyne
Teradyne
Teradyne Revenue by Segment
Revenue by Segment
Semiconductor Test Revenue
CapyFin.comRobotics Revenue
CapyFin.com Forward Guidance
Teradyne anticipates Q2 2023 revenue between $625 million and $685 million, with GAAP net income per diluted share between $0.53 and $0.72, and non-GAAP net income per diluted share between $0.55 and $0.74.
Positive Outlook
- Revenue between $625 million and $685 million is expected.
- GAAP net income per diluted share is projected to be $0.53 to $0.72.
- Non-GAAP net income per diluted share is anticipated to be $0.55 to $0.74.
- Guidance excludes acquired intangible asset amortization.
- Guidance includes the related tax impact on non-GAAP adjustments.
Challenges Ahead
- Slowing global industrial growth is contributing to softening near-term demand in Robotics.
- Ongoing weakness in smartphone related end markets.
- New regulations restricting the export to China of advanced semiconductors, supercomputer technology, equipment for the manufacturing of advanced semiconductors and components and technology for the manufacturing in China of certain semiconductor manufacturing equipment.
- Restrictions on the sale of semiconductor testers in China to test certain advanced semiconductors will impact Teradyne’s sales to certain companies in China.
- The Company also has determined that the restrictions on the export of certain US origin components and technology for use in the development and production in China of certain semiconductor manufacturing equipment impact its manufacturing and development operations in China.
Revenue & Expenses
Visualization of income flow from segment revenue to net income