None
EN
Teradyne forecasts upbeat revenue on strong chip equipment demand, shares jump
['Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
July 28 (Reuters) - Chip-testing equipment maker Teradyne forecast third-quarter revenue above Wall Street estimates on Tuesday, betting on a sustained rise in investment in wafer fabrication equipment, sending the company's shares up 13.5% in extended trading.
Growing demand for more complex and powerful chips used in AI data centers and vehicles has driven the need for sophisticated, higher-priced testing equipment, benefiting suppliers such as Teradyne.
The company is a supplier of automated test equipment used to verify the quality and reliability of semiconductors.
Here are some details:• Teradyne expects third-quarter revenue between $1.20 billion and $1.30 billion, ahead of analysts' average estimate of $1.04 billion, according to data compiled by LSEG.
• The company's second-quarter revenue more than doubled to $1.33 billion, beating estimates of $1.22 billion.