Teradyne — 2026Q3 财报

“NORTH READING, Mass. – July 28, 2026 – Teradyne, Inc. (NASDAQ: TER) reported revenue of $1,329 million for the second quarter of 2026 of which $1,122 million was in Semiconductor Test, $107 million in Product Test, and $100 million in Robotics.”

Revenue was $1,329 million, split $1,122 million Semiconductor Test, $107 million Product Test and $100 million Robotics.

“On a GAAP-basis, net income attributable to Teradyne for the second quarter of 2026 was $374.5 million, or $2.38 per diluted share. On a non-GAAP basis, net income attributable to Teradyne for the second quarter of 2026 was $389.0 million, or $2.47 per diluted share, which excluded acquired intangible asset amortization, restructuring and other charges, and the related tax impact on non-GAAP adjustment.”

The $2.47 headline is non-GAAP diluted EPS, on non-GAAP net income of $389.0 million; on a GAAP basis the quarter earned $2.38 per diluted share on net income of $374.5 million. The gap is acquired intangible asset amortization, restructuring and other charges, and the related tax impact.

“Second consecutive quarter of record revenue, exceeding the high end of our Q2 Guidance”

Teradyne's own lead bullet frames the quarter as a second straight revenue record that came in above the top of its own guidance range.

“Revenue up 104% and earnings up over 300% from Q2’25”

The company states revenue rose 104% and earnings more than 300% against the year-ago quarter.

“Record Memory revenue driven by continued strength in DRAM and a resurgence in NAND final test”

Memory revenue set a record, which the release attributes to continued DRAM strength and a resurgence in NAND final test.

“Our strategy to capture test and robotics opportunities from wafer to AI data center has driven another record quarter. This strength became evident in the year-on-year market expansion for all three of our business groups,” said Teradyne CEO Greg Smith. “In the short term, our Q3 guidance reflects robust AI-related demand. Looking further ahead, rapid increase in wafer fab equipment investment sets the stage for continued growth in 2027 and beyond.”

CEO Greg Smith credits the wafer-to-AI-data-center strategy and year-on-year expansion across all three business groups, and points to rising wafer fab equipment investment as the basis for growth in 2027 and beyond.

“Guidance for the third quarter of 2026 is revenue of $1,200 million to $1,300 million, with GAAP net income attributable to Teradyne of $1.79 to $2.09 per diluted share and non-GAAP net income attributable to Teradyne of $1.85 to $2.15 per diluted share.”

Third-quarter guidance is revenue of $1,200 million to $1,300 million with non-GAAP EPS of $1.85 to $2.15 and GAAP EPS of $1.79 to $2.09 — a range whose top end sits below both the revenue and the EPS the company just reported.

“For the second quarter in a row, we delivered record revenue and, once again, AI was the driver. Total company revenue topped $1.3 billion, up over 100% year-over-year, with non-GAAP EPS of $2.47, up over 300% year-over-year.”

Greg Smith opened by naming AI as the driver of a second consecutive record: revenue above $1.3 billion, up over 100% year-over-year, with non-GAAP EPS of $2.47, up over 300%.

“At more than 60%, AI-driven revenue is the key proof point that our wafer-to-AI-data-center strategy is delivering results.”

Smith put AI-driven revenue at more than 60% of the total and called it the proof point for the wafer-to-AI-data-center strategy.

“The revenue breakdown within Semi Test was SoC at $843 million, memory at $212 million, and IST at $67 million.”

CFO Michelle Turner gave the Semi Test split: SoC at $843 million, memory at $212 million and IST at $67 million.

“As expected, compute order timing was more than offset by another record memory quarter and IST growing over 150% quarter over quarter.”

Turner said compute order timing was more than offset by a record memory quarter and by IST growing over 150% quarter over quarter.

“Demand signals remain strong as memory manufacturers are planning capacity additions further out in time, driving our book to bill ratio in the quarter to over 2.”

In the memory section of her remarks, Turner said the quarter's book-to-bill ratio ran to over 2, attributing it to memory manufacturers planning capacity additions further out in time. She said only “our book to bill ratio,” without naming a segment.

“Also, in early Q3, we completed correlation at a second hyperscaler, increasing our confidence in 2027 market share growth.”

Smith said Teradyne completed correlation at a second hyperscaler in early Q3, and said it increases the company's confidence in 2027 market share growth.

“As we discussed last quarter, our expectation is that our compute business would be concentrated in the first half. We have multiple programs across networking and hyperscalers that built out capacity in the first half that is now being utilized. The next surge for these customers is expected to be in the first half of 2027.”

Smith said compute was expected to be concentrated in the first half, with capacity built out earlier in the year now being utilized and the next surge for those customers expected in the first half of 2027.

“Gross margins for the quarter were 59.8%, up 250 basis points year-over-year driven by strong Semi Test volume and product mix while sequentially gross margins were down 110 basis points driven in part by one-time benefits in the first quarter.”

Turner said gross margin was 59.8%, up 250 basis points year-over-year on Semi Test volume and product mix, and down 110 basis points sequentially, which she attributed in part to one-time benefits in the first quarter.

“To aid in your modeling, we expect growth in second half in comparison to first half in memory, auto & industrial, IST, Product Test and Robotics Groups. We expect this growth will be offset by softness in mobile and order timing in compute.”

Turner's stated composition of the second half: growth in memory, auto & industrial, IST, Product Test and Robotics, offset by softness in mobile and order timing in compute.

“As WFE capex approaches $250 billion by the end of the decade, we see a path for overall ATE TAM to reach or exceed $20 billion.”

Smith's long-horizon frame for the test market: wafer fab equipment capex approaching $250 billion by the end of the decade and a path for the overall ATE TAM to reach or exceed $20 billion.