TER
FY2026 Q1 · Calendar Q2 2026
Teradyne, Inc.
Teradyne delivered a record Q1 with $1.282 billion in revenue and non-GAAP EPS of $2.56, beating consensus on both lines. AI-related demand now accounts for nearly 70% of sales, up from 60% in Q4 2025. New platforms — Photon 100 for silicon photonics and Omnyx for server board testing — expand the addressable market, while the MultiLane JV and TestInsight acquisition broaden the portfolio. However, Q2 guidance of $1.15 to $1.25 billion implies a sequential revenue decline of roughly 3 to 10%, and management cited limited second-half visibility. The stock fell 19.4% on the report before recovering 24.9% subsequently, suggesting investors initially focused on the sequential guide-down but later reassessed the structural AI test demand trajectory.
EPS surprise+21.3%
Market move-19.4%
