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Jan. 22, 2020, 5:47 p.m. EST

Teradyne stock rallies on earnings, outlook beat

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    Teradyne Inc. (TER)

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By Wallace Witkowski

TER

Teradyne Inc. /zigman2/quotes/208321188/composite TER +0.88% shares rallied in the extended session Wednesday after the electronic testing equipment maker's results and outlook topped Wall Street estimates. Teradyne shares rallied 9.5% after hours, following a 2.9% rise in the regular session to close at $73.59. The company reported fourth-quarter net income of $136.8 million, or 75 cents a share, compared with $143.8 million, or 79 cents a share, in the year-ago period. Adjusted earnings were 88 cents a share, compared with 63 cents a share in the year-ago quarter. Revenue rose to $654.7 million from $519.6 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 79 cents on revenue of $611.7 million. Teradyne expects first-quarter adjusted earnings of 86 cents to 96 cents a share on revenue of $670 million to $710 million, while analysts had forecast earnings of 64 cents a share on revenue of $560.4 million. The company also said its board hiked the March 20-payable quarterly dividend 11% to 10 cents a share and approved a buyback of up to $1 billion in shares, of which a minimum of $250 million will be bought back in 2020.

/zigman2/quotes/208321188/composite
US : U.S.: Nasdaq
$ 67.98
+0.59 +0.88%
Volume: 2.21M
Feb. 19, 2020 4:00p
P/E Ratio
25.51
Dividend Yield
0.59%
Market Cap
$11.29 billion
Rev. per Employee
$428,735
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