Teradyne’s Q1 tops views, company sees automation recovery ‘in full swing’

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    Shares of Teradyne Inc. TER, -1.75% rose more than 4% in the extended session Tuesday after the semiconductor test maker reported first-quarter results above Wall Street expectations and said a recovery for industrial automation is in “full swing.” Teradyne said it earned $782 million, or $1.09 a share, in the quarter, compared with $704 million, or 97 cents a share, in the year-ago period. Adjusted for one-time items, Teradyne earned $1.11 a share. Revenue rose 11% to $782 million. Analysts polled by FactSet had expected the company to report adjusted EPS of $1.05 on sales of $760 million. “Test demand for automotive, industrial, memory, and mobility remain strong and growing,” Chief Executive Mark Jagiela said in a statement. “The industrial automation recovery is in full swing with 33% growth compared to (first quarter 2020),” he said.

    This article was originally published by Marketwatch.com. Read the original article here.

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