Teradyne Earnings: Semiconductor Surprise

Will wonders never cease!

Demonstrating that it is still possible to produce a solid quarter in the struggling semiconductor equipment business, Teradyne (TER) late yesterday turned in better than expected first quarter results - and its shares have responded accordingly.

Teradyne reported Q1 revenue of $297 million, with non-GAAP EPS of 12 cents a share, beating the consensus of $295.6 million and 11 cents. For Q2, the company sees revenue of $310 million to $330 million, with non-GAAP profits of 14-19 cents a share; the Street has been looking for $301.6 million and 14 cents.

Teradyne shares today are up $1.02 cents, or 8.3%, to $13.30.