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Teradyne

Teradyne (TER) Q1 2026 Earnings

Reported Apr 29, 2026 at 6:00 AM ET · SEC Source

Q1 26 EPS

$2.56

BEAT +20.75%

Est. $2.12

Q1 26 Revenue

$1.28B

BEAT +5.56%

Est. $1.21B

vs S&P Since Q1 26

+2.9%

BEATING MARKET

TER +8.5% vs S&P +5.6%

Market Reaction

Did TER Beat Earnings? Q1 2026 Results

Teradyne delivered a blowout first quarter for fiscal 2026, posting non-GAAP EPS of $2.56 and revenue of $1.28 billion, beating consensus estimates of $2.11 and $1.21 billion by 21.15% and 5.56% respectively, extending the company's streak of consens… Read more Teradyne delivered a blowout first quarter for fiscal 2026, posting non-GAAP EPS of $2.56 and revenue of $1.28 billion, beating consensus estimates of $2.11 and $1.21 billion by 21.15% and 5.56% respectively, extending the company's streak of consensus EPS beats to four consecutive quarters. Revenue surged 87% year-over-year, driven overwhelmingly by AI-related demand, which accounted for roughly 70% of total sales, with Semiconductor Test alone generating $1.11 billion of the quarter's total. The AI-fueled volume drove dramatic operating leverage, with non-GAAP operating margin expanding to 37.5% from 20.5% in the year-ago period. Investors watching the print closely will note that CEO Greg Smith credited the company's wafer to AI data center strategy for the outperformance, and while Q2 2026 guidance of $1.15 billion to $1.25 billion in revenue and non-GAAP EPS of $1.86 to $2.15 implies a sequential step-down, management expressed confidence in continued robust AI-driven momentum across all business groups.

Key Takeaways

  • • Approximately 70% of revenue tied to AI-related demand
  • • Strength in wafer to AI data center strategy driving record results
  • • Strong year-over-year growth across all business groups — Semiconductor Test, Product Test, and Robotics
  • • AI-related demand strength across compute segments and memory

TER Forward Guidance & Outlook

Q2 2026 guidance calls for revenue of $1,150 million to $1,250 million, GAAP EPS of $1.83 to $2.12, and non-GAAP EPS of $1.86 to $2.15. Management expects continued robust AI-driven momentum across all business groups, with the company's wafer to AI data center strategy as the key catalyst for sustained growth.

24/7 Wall St

TER YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

TER Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“Our Q1 results reached a new record high. With approximately 70% of our revenue tied to AI-related demand, our results reflect the strength of our wafer to AI data center strategy. All of our business groups - Semiconductor Test, Product Test, and Robotics - delivered strong year-over-year growth which we expect to continue with robust AI driven momentum as the catalyst.”

— Greg Smith, Q1 2026 Earnings Press Release

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