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Oct. 20, 2020, 5:33 p.m. EDT

S&P 500 newcomer Teradyne’s Q3 sales up 41%

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By Claudia Assis

Shares of Teradyne Inc. rose nearly 5% in the extended session Tuesday after the semiconductor-equipment manufacturer, recently added to the S&P 500, beat Wall Street expectations for its third quarter.

Teradyne /zigman2/quotes/208321188/composite TER -5.47% said it earned $222.7 million, or $1.21 a share, in the quarter, compared with 75 cents a share in the year-ago period.

Adjusted for one-time items, the company earned $1.18 a share, compared with 77 cents a share a year ago. Sales rose 41% to $819 million, the company said.

Analysts polled by FactSet expected the company to report adjusted earnings of $1.12 a share on sales of $786 million.

The company pinned the beat on “record memory and storage test shipments along with strong system on a chip (SOC) test demand for mobility and compute devices.”

Teradyne said it expects its 2020 sales to grow more than 33% to more than $3 billion, and its non-GAAP EPS to grow 57% to $4.50.

The company guided for revenue between $680 million and $740 million for the fourth quarter, and an adjusted profit between 90 cents a share and $1.06 a share.

Teradyne last month was added to the S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.84% alongside Etsy Inc. /zigman2/quotes/202790087/composite ETSY -0.13% and Catalent Inc. /zigman2/quotes/206700489/composite CTLT -3.98% . The benchmark index disappointed those who hoped Tesla Inc. /zigman2/quotes/203558040/composite TSLA -1.82% would join the benchmark as well.

/zigman2/quotes/208321188/composite
US : U.S.: Nasdaq
$ 155.56
-9.01 -5.47%
Volume: 1.88M
Jan. 18, 2022 4:00p
P/E Ratio
29.27
Dividend Yield
0.26%
Market Cap
$26.83 billion
Rev. per Employee
$650,328
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/zigman2/quotes/210599714/realtime
US : S&P US
4,577.11
-85.74 -1.84%
Volume: 2.74B
Jan. 18, 2022 4:56p
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/zigman2/quotes/202790087/composite
US : U.S.: Nasdaq
$ 163.49
-0.21 -0.13%
Volume: 3.29M
Jan. 18, 2022 4:00p
P/E Ratio
48.24
Dividend Yield
N/A
Market Cap
$20.75 billion
Rev. per Employee
$1.58M
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/zigman2/quotes/206700489/composite
US : U.S.: NYSE
$ 103.93
-4.31 -3.98%
Volume: 1.34M
Jan. 18, 2022 4:03p
P/E Ratio
32.78
Dividend Yield
N/A
Market Cap
$18.53 billion
Rev. per Employee
$241,451
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/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 1,030.51
-19.10 -1.82%
Volume: 22.33M
Jan. 18, 2022 4:00p
P/E Ratio
333.67
Dividend Yield
N/A
Market Cap
$1054.09 billion
Rev. per Employee
$662,097
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