Companies /Technology

Teradyne Inc

NASDAQ: TER Semiconductor Equipment & Materials

Q1 2026 Earnings

Reported Apr 29, 2026, 6:00am ET · SEC source
$2.56
Beat +20.75%
EPS · est. $2.12
$1.3B
Beat +5.56%
Revenue · est. $1.2B
+8.6%
Beating market
TER vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−15%−10%−5%0Apr 29Apr 30report 6:00am ETearnings+0.4%−1.4%
−15%−10%−5%0Apr 29Apr 30earnings+0.4%−1.4%
TER −1.4%S&P 500 +0.4%
−15%−10%−5%0Apr 29Apr 30report 6:00am ETearnings+0.5%−1.4%
−15%−10%−5%0Apr 29Apr 30earnings+0.5%−1.4%
TER −1.4%NASDAQ +0.5%
−14%−7%0+7%Apr 28May 7report 6:00am ETearnings+3.2%+6.1%
−14%−7%0+7%Apr 28May 7earnings+3.2%+6.1%
TER +6.1%S&P 500 +3.2%
−14%−7%0+7%Apr 28May 7report 6:00am ETearnings+5.5%+6.1%
−14%−7%0+7%Apr 28May 7earnings+5.5%+6.1%
TER +6.1%NASDAQ +5.5%
+12.12%
Day of report
+0.57%
Next session
+3.10%
One week
+14.31%
30 days

S&P 500 over the same 30 days: +5.69%.

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 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. <a href="https://247wallst.com/investing/2026/04/28/live-will-teradyne-stock-rally-after-q1-earnings-tonight/">Investors watching the print closely</a> 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

“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.”

Teradyne CEO, on the earnings call

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.

TER YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$400.0M$800.0M$1.2B$685.7M$1.3BRevenue$415.3M$780.9MGross Profit$120.8M$473.0MOperating Income$98.9M$398.9MNet Income
$0$400.0M$800.0M$1.2BRevenueGross ProfitOperating IncomeNet Income

TER Revenue by Segment

Semiconductor Test$1.1B+104.6%
Product Test$80.0M+8.1%
Robotics$91.0M+31.9%

Figures from SEC filings and company reports. Not investment advice.