Teradyne Forecasts Strong Revenue, Appoints New CFO Amidst Chip Demand

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.