Teradyne reported Q3 2022 revenue of $827 million, with GAAP EPS of $1.10 and non-GAAP EPS of $1.15. The results exceeded the mid-point of their July outlook due to easing supply line constraints, enabling greater than expected shipments.
Revenue and earnings were above the mid-point of Q3 guidance.
Test revenue decreased 14% compared to Q3 2021, but was stronger than July guidance due to improved supply chain performance.
Industrial Automation revenue decreased 2% in dollar terms but grew 7% in constant currency compared to Q3 2021.
The short-term outlook in semiconductor test is mixed, with strong automotive and industrial demand offset by muted compute and mobility demand.
Teradyne anticipates Q4 2022 revenue between $670 million and $750 million, with GAAP net income per diluted share between $0.59 and $0.84, and non-GAAP net income per diluted share between $0.62 and $0.86.
Visualization of income flow from segment revenue to net income