TER · Teradyne, Inc.

Teradyne reported record first quarter 2026 results, with revenue of $1.282 billion, up 87% year-over-year and 18% sequentially, driven by strong AI-related demand across compute and memory segments. Semiconductor Test revenue was $1.111 billion, Robotics $91 million, and Product Test $80 million, all showing robust growth. GAAP net income was $398.9 million ($2.53 per diluted share) compared to $98.9 million ($0.61) a year ago; non-GAAP net income was $402.9 million ($2.56 per diluted share) versus $117.0 million ($0.75). Gross margin improved to 60.9% GAAP from 60.6% in the prior year quarter, reflecting favorable mix and operating leverage. CEO Greg Smith attributed the record performance to the company's wafer-to-AI data center strategy, noting that approximately 70% of revenue is tied to AI-related demand. For the second quarter of 2026, Teradyne guided revenue of $1.15 billion to $1.25 billion, GAAP EPS of $1.83 to $2.12, and non-GAAP EPS of $1.86 to $2.15, which is above the consensus estimate of $2.15 for the forward quarter. The company also declared a quarterly dividend of $0.13 per share, up from $0.12 in the prior quarter. The strong results and upbeat guidance underscore the sustained momentum in AI-driven semiconductor test demand, positioning Teradyne for continued growth.