Back to Industry News
General
Teradyne Forecasts Strong Revenue, Appoints New CFO Amidst Chip Demand
Summary generated with AI, editor-reviewed
Heartspace News Desk
•Source: Reuters
TL;DR
Teradyne projects fourth-quarter revenue between $920 million and $1 billion, surpassing analysts' expectations due to demand for its chip-testing equipment. Michelle Turner was appointed Chief Financial Officer, succeeding Sanjay Mehta, and the company reported better-than-expected third-quarter revenue of $769.2 million, causing a stock surge.
Stay updated on stories like this
Key takeaways
- Teradyne anticipates fourth-quarter revenue between $920 million and $1 billion, exceeding Wall Street's average estimate of $814
- 3 million, according to a Reuters report
- This positive forecast is driven by strong demand for Teradyne's chip-testing equipment, benefiting from increased investment in artificial intelligence
Teradyne anticipates fourth-quarter revenue between $920 million and $1 billion, exceeding Wall Street's average estimate of $814.3 million, according to a Reuters report. This positive forecast is driven by strong demand for Teradyne's chip-testing equipment, benefiting from increased investment in artificial intelligence.
In addition to the revenue forecast, Teradyne announced the appointment of Michelle Turner as its new Chief Financial Officer, effective November 3. Ms. Turner, formerly of L3Harris Technologies, succeeds Sanjay Mehta, who is retiring. The company also reported third-quarter revenue of $769.2 million, surpassing analyst expectations. Consequently, Teradyne's shares experienced a surge in extended trading.
Related Topics
Teradynerevenue forecastchip-testing equipmentCFO appointmentsemiconductor industry
Never miss stories like this
Verified mention available
Free to claim
Is this your company?
Set up real-time alerts and keep your Heartspace News coverage accurate. Verified teams can update profiles, request corrections, and collaborate on future stories.
Set up alerts Takes under 1 minute • Verified manually