Teradyne Posts Higher Revenue, Operating Income, Net Income, and Diluted EPS Year-Over-Year in Interim Filing

Bottom line

Teradyne's interim filing on Form 10-Q for the fiscal period period-ended-2026-06-28 (accession 0001193125-26-327715, CIK 0000097210, ticker TER) reports a profit on both the three-month and six-month windows and shows each of the four headline lines — revenue, operating income, net income attributable to parent, and diluted earnings per share — moving higher than the prior-year comparative. The accompanying unaudited condensed consolidated statements, presented under U.S. generally accepted accounting principles, frame Teradyne as a leading global provider of automated test equipment and robotics, organized across the Semiconductor Test, Product Test, and Robotics groups, with the robotics line centered on collaborative robotic arms and autonomous mobile robots sold to manufacturing, logistics, and industrial customers.

For the three-month reporting period the three months ended June 28, 2026, revenues were $1,328,990,000 USD, operating income was $437,810,000 USD, net income attributable to parent was $374,533,000 USD, and diluted earnings per share were $2.38 per diluted share USD/SHARES — each higher than the prior-year comparative, where revenues had been $651,797,000 USD, operating income $90,743,000 USD, net income attributable to parent $78,372,000 USD, and diluted earnings per share $0.49 per diluted share USD/SHARES. Both quarters sit on a profit-to-profit footing, with no swing into a loss.

For the six-month year-to-date period the six months ended June 28, 2026, revenues reached $2,611,484,000 USD, operating income $910,813,000 USD, net income attributable to parent $773,442,000 USD, and diluted earnings per share $4.91 per diluted share USD/SHARES — each above the prior-year comparative of $1,337,477,000 USD in revenue, $211,547,000 USD in operating income, $177,269,000 USD in net income attributable to parent, and $1.10 per diluted share USD/SHARES in diluted earnings per share, again on a profit-to-profit basis.

Source scope for this filing is the unaudited condensed consolidated interim financial statements inside 10-Q for fiscal period period-ended-2026-06-28, with the prior balance-sheet date referenced from audited statements in the Annual Report on Form referenced in the same document. The numeric items used here are drawn directly from those condensed consolidated statements; qualitative color on business segments and accounting policy comes from management's notes. The filing evidence does not attribute this change to any single cause.. The filing evidence contains no peer or industry comparison.. Readers cross-checking semiconductor and storage test peers can compare the trajectory in Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in Filing, where similar year-over-year directionality appears in a different product mix.

Financial performance

- Reported facts: For the three-month reporting period the three months ended June 28, 2026, Revenues were $1,328,990,000 USD against the prior-year comparative of $651,797,000 USD; Operating Income (Loss) was $437,810,000 USD versus $90,743,000 USD; Net Income (Loss) Attributable to Parent was $374,533,000 USD versus $78,372,000 USD; and Earnings Per Share, Diluted was $2.38 per diluted share USD/SHARES versus $0.49 per diluted share USD/SHARES. For the six-month year-to-date period the six months ended June 28, 2026, Revenues were $2,611,484,000 USD versus $1,337,477,000 USD; Operating Income (Loss) was $910,813,000 USD versus $211,547,000 USD; Net Income (Loss) Attributable to Parent was $773,442,000 USD versus $177,269,000 USD; and Earnings Per Share, Diluted was $4.91 per diluted share USD/SHARES versus $1.10 per diluted share USD/SHARES. - Management explanations: Management's accompanying notes describe the preparation of consolidated financial statements and the use of estimates spanning inventories, investments, goodwill, intangible and other long-lived assets, accounts receivable, income taxes, deferred tax assets and liabilities, pensions, warranties, and loss contingencies. The notes further outline that the MultiLane Test Products joint venture introduces a noncontrolling-interest line presented outside Teradyne shareholder's equity, with net income (loss) of MLTP allocated between Teradyne and the noncontrolling interests in proportion to each party's ownership share. - Analyst inference: Across both windows, the four reported metrics move in the same authorized direction as the prior-year comparatives, with each period remaining profitable against a profitable prior-year comparable, consistent with the profile detailed in the Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in Filing coverage of a parallel interim reporting cycle. - Counter-evidence: The filing does not break out the standalone contribution of the MultiLane Test Products acquisition to revenue or operating income, nor does it disclose pro forma amounts, leaving the acquired contribution unreconciled inside the segment-level numbers. The filing evidence contains no peer or industry comparison. - Unknowns: The granular drivers of period-over-period change are not attributed in the cited note, and the filing does not provide peer or industry benchmarks. The filing evidence does not attribute this change to any single cause.

QOQ - Reported facts: The interim statement set reports both a three-month reporting period ending the three months ended June 28, 2026 and a six-month year-to-date period ending the six months ended June 28, 2026, with the six-month figures mechanically spanning the second quarter included in the quarter results. - Management explanations: Management reiterates that the preparation of consolidated financial statements requires judgments that may change as additional information is obtained, and explicitly carves out a measurement-period window of up to twelve months from the acquisition date for refining MultiLane Test Products fair values. - Analyst inference: The half-year figures simply aggregate the quarter and the prior quarter already disclosed in earlier interim reporting, so quarter-over-quarter movement is not separately broken out in the cited note beyond what is implicit in the year-to-date build. - Counter-evidence: No disaggregated quarter-over-quarter bridge is provided for revenue, operating income, net income, or diluted EPS within this filing. - Unknowns: Specific sequential-quarter drivers are not attributed in the cited note. The filing evidence does not attribute this change to any single cause.

GUIDANCE - Reported facts: The cited note references a recently issued Accounting Standards Update on expense disaggregation that is effective for fiscal years beginning after December of a stated year and for interim periods within fiscal years beginning after the same threshold, with early adoption permitted. - Management explanations: Management describes MLTP as expected to serve growing demand from the AI Data Center equipment market by accelerating the development of test solutions for critical high-speed data connections, drawing a parallel to the strategic positioning outlined in the Lizely Finance Earnings Analysis — UFP TECHNOLOGIES INC Interim Filing: Profit-to-Profit Growth on Both Windows coverage. - Analyst inference: The ASU timeline implies a forthcoming change to interim disclosure granularity, but the filing does not state whether Teradyne will early adopt. - Counter-evidence: No quantitative forward outlook, revenue range, margin target, or EPS guidance is included in the cited note. - Unknowns: Management's forward expectations are not quantified in the cited note.

EXPECTATIONS - Reported facts: The cited note sets out the preliminary purchase-price allocation for the MultiLane Test Products joint venture, including goodwill, intangible assets, current assets, other non-current assets, accounts payable and current liabilities, long-term deferred tax liabilities, other long-term liabilities, and noncontrolling interests, alongside estimated useful lives for developed technology and customer relationships. - Management explanations: Management attributes the goodwill to cost synergies, assembled workforce, and anticipated incremental revenue streams, and confirms that the results of MLTP have been included in Teradyne's Product Test segment from the date of acquisition. - Analyst inference: The MLTP inclusion is reflected inside the Product Test segment results already embedded in the reported revenue and operating income figures, although the standalone contribution is described as not material to the condensed consolidated financial statements. - Counter-evidence: The filing evidence contains no peer or industry comparison. - Unknowns: The filing evidence does not attribute this change to any single cause.

Operating drivers and segments

- Teradyne reports its operations across three product families disclosed in the cited note: Semiconductor Test systems and instruments, Product Test systems and instruments, and Robotics products. - The filing describes Teradyne's automated test equipment as serving semiconductors, wireless products, data storage, silicon photonics, and complex electronics systems across consumer electronics, automotive, industrial, computing, communications, and defense and aerospace industries, while its robotics arm supplies collaborative robotic arms and autonomous mobile robots to global manufacturing, logistics, and industrial customers. - Recent inorganic activity is allocated by segment in the cited note: the MLTP joint venture and the Quantifi acquisition are folded into the Product Test segment from the date of acquisition, and the AET acquisition is folded into the Semiconductor Test segment, with AET accounted for as a business combination. - Revenue recognition disaggregation is provided in the filing along the dimensions of timing of revenue recognition, primary geographical market, and major product lines, giving readers a structured view of how the top line is composed across these three segments. - The condensed consolidated income statement shows Revenues of $1,328,990,000 USD for the three-month period and $2,611,484,000 USD for the six-month period the three months ended June 28, 2026 and the six months ended June 28, 2026, against prior-year comparatives of $651,797,000 USD and $1,337,477,000 USD for the three months ended June 29, 2025 and the six months ended June 29, 2025 respectively. - Operating Income (Loss) for the same windows is reported at $437,810,000 USD and $910,813,000 USD for the three months ended June 28, 2026 and the six months ended June 28, 2026, compared with $90,743,000 USD and $211,547,000 USD for the prior-year windows. - On a year-over-year basis the authorized comparisons indicate Revenues and Operating Income both moved higher on the three-month and six-month comparisons, with operating profitability preserved as profit in the current and prior periods on both windows. - The filing does not present segment-level operating income, segment margins, or a segment breakout of acquisition contributions in the cited note, so segment economics beyond revenue mix cannot be read directly from the filing evidence.

- Management frames Teradyne as a leading global provider of automated test equipment and robotics solutions, with the robotics line positioned around quality, manufacturing and material handling efficiency, and cost reduction for global manufacturing, logistics, and industrial customers. - Management describes the MLTP joint venture as a vehicle to serve growing demand from the AI Data Center equipment market by accelerating the development of test solutions for critical high-speed data connections, and treats the joint venture as part of the Product Test segment. - Management describes the AET acquisition as integrated into the Semiconductor Test segment from the date of acquisition, with goodwill attributable to cost synergies, an assembled workforce, and anticipated incremental revenue streams. - Management describes Quantifi as integrated into the Product Test segment from the date of acquisition, framing the deal as an extension of Teradyne's test portfolio rather than a stand-alone reporting unit. - Management calls out a recently issued FASB Accounting Standards Update on expense disaggregation, noting it will require additional annual and interim disclosure of amounts such as inventory purchases, employee compensation, depreciation, and intangible asset amortization within each income statement expense caption once effective, with no current-period impact described in the cited note. - Management reiterates that the condensed consolidated interim financial statements are unaudited, reflect all normal recurring adjustments, and are read in conjunction with the audited statements contained in the Annual Report referenced via Item 6.

For readers comparing interim results across the semi test and robotics space, the Lizely Finance Earnings Analysis — UFP TECHNOLOGIES INC Interim Filing: Profit-to-Profit Growth on Both Windows piece offers a parallel profit-to-profit interim read for context, and the broader Finance Calculators Insights hub collects additional interim-period comparisons. Operating profitability was maintained across both windows against the prior-year comparatives. The filing evidence does not attribute this change to any single cause.

Cash flow and capital

The six-month year-to-date period ended the six months ended June 28, 2026 showed Teradyne, Inc. (TER, 0000097210, filing type 10-Q, fiscal period period-ended-2026-06-28, accession 0001193125-26-327715) generating cash from operations of $734,262,000 USD, a higher operating cash inflow than the $343,726,000 USD recorded in the prior-year comparative period the six months ended June 29, 2025. The increase in operating cash flow year over year is the only top-line cash item that moved in a positive direction on a reported basis. The filing evidence does not attribute this change to any single cause.

Capital spending for the half-year period rose to $155,439,000 USD, higher than the $114,429,000 USD spent on property, plant, and equipment in the prior-year comparable window. The increase in capital expenditures is consistent with a heavier investment posture, though the filing evidence does not attribute this change to any single cause. The filing evidence does not attribute this change to any single cause.

Investing activities used -$338,631,000 USD in the current six-month period, a larger cash outflow than the -$240,237,000 USD used in the prior-year period. The step-up in investing outflows combines the higher capital expenditure line with activity that the filing does not break out in narrative form. The filing evidence does not attribute this change to any single cause.

Financing activities used -$340,960,000 USD over the six months, a larger financing outflow than the -$313,619,000 USD used in the prior-year window. Within the financing category, common stock repurchases fell to $74,238,000 USD from $274,873,000 USD, while dividend payments rose to $40,710,000 USD from $38,584,000 USD. Taken together, the buyback line moved lower while the dividend line moved higher, leaving the net financing outflow still wider than a year earlier. The filing evidence does not attribute this change to any single cause.

On the balance sheet at the balance sheet date of June 28, 2026, cash and cash equivalents stood at $349,538,000 USD and accounts payable, current, stood at $383,422,000 USD. The filing does not provide a free cash flow reconciliation, working-capital schedule, or liquidity ratio, so any leverage or coverage framing beyond the as-reported lines would be unsupported. The filing evidence does not attribute this change to any single cause.

Counter-evidence within the same filing cuts against a uniform read of "more shareholder return." Buybacks declined while dividends rose, and the company still used more cash overall for financing than a year earlier even as capital spending increased. The only unambiguously positive cash-flow signal across the six-month window is the higher operating cash inflow. The filing evidence does not attribute this change to any single cause.

Unknowns that this filing does not resolve include the segment-level split of capital spending, the maturity profile of any debt, and the precise composition of the investing outflow beyond property, plant, and equipment. Investors comparing this report against peers can cross-reference patterns in ONEOK Posts Higher Revenue, Operating Income, Net Income and Diluted EPS Year-Over-Year in Interim Filing when sizing Teradyne's capital-return profile against other interim filers. The filing evidence contains no peer or industry comparison.

Peer and historical context

The filing evidence contains no peer or industry comparison.

TERADYNE, INC (TER) files its results under 10-Q for period-ended-2026-06-28, so this section draws the historical comparison entirely from the issuer's own year-over-year lines in the same document — no peer set, sector index, or competitor disclosure is presented in the filing evidence.

Across the two windows reported, every headline line moves in the same direction: higher than the prior period. Revenues were $2,611,484,000 USD for the six months ended June 28, 2026 versus $1,337,477,000 USD for the six months ended June 29, 2025, and the quarter view tells the same story with $1,328,990,000 USD for the three months ended June 28, 2026 against $651,797,000 USD for the three months ended June 29, 2025. Operating Income (Loss) extends that pattern, with the six-month result of $910,813,000 USD lifting above the prior year's $211,547,000 USD, and the quarter figure of $437,810,000 USD sitting above the prior quarter's $90,743,000 USD. Net Income (Loss) Attributable to Parent keeps the same shape on both windows: $773,442,000 USD versus $177,269,000 USD on the half-year basis, and $374,533,000 USD versus $78,372,000 USD on the quarter basis. Earnings Per Share, Diluted follows suit on both windows, and the bottom line stays profitable on both sides of every comparison, so the authorized transitions are profit to profit throughout.

Cash generation tracks the same direction. Net Cash Provided by (Used in) Operating Activities was $734,262,000 USD for the six months ended June 28, 2026 compared with $343,726,000 USD for the six months ended June 29, 2025, an increase on a positive base. The other two financing-statement lines move in the opposite direction: Net Cash Provided by (Used in) Financing Activities and Net Cash Provided by (Used in) Investing Activities both decreased year over year on a negative base for the half-year window. Payments to Acquire Property, Plant, and Equipment increased, consistent with heavier reinvestment, while Payments for Repurchase of Common Stock decreased and Payments of Dividends increased over the same half-year window. The filing evidence does not attribute this change to any single cause.

No competitor, index, or industry-group reference appears in the filing evidence, so any cross-company benchmark for TERADYNE, INC would have to come from outside this filing. Readers looking for a peer-checked read on a similar profit-to-profit trajectory in adjacent interim filings can compare the shape of the move against Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in Filing, which is presented only as a directional reference, not as a like-for-like peer comparison.

Scenario analysis

Reported facts and management framing anchor each scenario before any inference is layered on top. In the three months ended June 28, 2026, Revenues were $1,328,990,000 USD, higher than the $651,797,000 USD recorded in the three months ended June 29, 2025. Across the six months ended June 28, 2026, Revenues were $2,611,484,000 USD versus $1,337,477,000 USD in the six months ended June 29, 2025. Net Income (Loss) Attributable to Parent came in at $374,533,000 USD for the quarter ($78,372,000 USD a year earlier) and $773,442,000 USD for the year-to-date ($177,269,000 USD in the prior period). Management attributes the period's composition to two acquisitions — Quantifi and the AET business purchased from Infineon Technologies AG in Regensburg — and to a non-controlling stake in Technoprobe accounted for under the equity method, with Teradyne electing to lag its share of Technoprobe's results on a consistent basis.

Top-line momentum continues on both windows: Revenues were $1,328,990,000 USD in the three months ended June 28, 2026 versus $651,797,000 USD in the three months ended June 29, 2025, and $2,611,484,000 USD across the six months ended June 28, 2026 versus $1,337,477,000 USD across the six months ended June 29, 2025 — both authorized as increases. - Bottom-line direction matches the top line: Net Income (Loss) Attributable to Parent was $374,533,000 USD (vs. $78,372,000 USD) and $773,442,000 USD (vs. $177,269,000 USD), authorized as increases with a profit-to-profit transition on both windows. - The Quantifi intangible-asset mix and the AET business combination integrate into the Semiconductor Test segment while leaving disaggregated revenue exposure roughly in line with management's existing product-line table. - Equity-method contributions from Technoprobe, recognized with a reporting lag, sit within historical ranges and add a non-cash earnings line.

Acquisition-led revenue lift extends: Quantifi goodwill-generating intangibles and the AET unit strengthen the Semiconductor Test backlog, and $1,328,990,000 USD / $2,611,484,000 USD trend higher against $651,797,000 USD / $1,337,477,000 USD. - Profit conversion outpaces revenue: $374,533,000 USD exceeds $78,372,000 USD, and $773,442,000 USD exceeds $177,269,000 USD, both profit-to-profit. - Deferred revenue recognised during the period — portions of the opening balance tied to undelivered hardware, extended warranties, training, application support, and post-contract support — accelerates into recognised revenue at higher run-rate than the base path.

Reported numbers stay at the levels cited above, but operating leverage compresses if integration costs from Quantifi and AET run heavier than disclosed; The filing evidence does not attribute this change to any single cause.. - Equity-method results from Technoprobe introduce a non-cash drag if Technoprobe's own earnings deteriorate; Teradyne reports the share on a reporting lag, so the hit would surface one cycle later. - Marketable-security fair-value movements across Level 1 and Level 2 holdings — where the vast majority of Level 2 assets are fixed-income securities priced by third-party vendors — could pressure other comprehensive income without affecting operating results. - Counter-evidence inside the filing: management did not separately disclose Quantifi's standalone contribution to total company revenue or income from operations before income taxes, nor did it present pro forma financials, characterizing the acquisition impact as not material; this caps the disclosure quality of any pure-acquisition upside or downside story. The filing evidence does not attribute this change to any single cause.

For a cross-issuer read, see Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in Filing and the Lizely Finance Earnings Analysis — ANI Pharmaceuticals Interim Filing: Profit-to-Profit Growth on Both Windows for similar profit-to-profit patterns.

Risks and what to watch

- Reported financial facts only — Revenues for the three-month reporting period of TERADYNE, INC totaled $1,328,990,000 USD, against $651,797,000 USD in the prior-year comparative, an authorized increase with both windows in positive territory per the filing. Revenues for the six-month year-to-date window of the six months ended June 28, 2026 came in at $2,611,484,000 USD versus $1,337,477,000 USD in the six months ended June 29, 2025, also authorized as higher than the prior period on both sides positive. - Net Income (Loss) Attributable to Parent sat at $374,533,000 USD for the three months ended June 28, 2026 and $773,442,000 USD for the six months ended June 28, 2026, each higher than its prior-year comparison of $78,372,000 USD and $177,269,000 USD respectively, with profit-to-profit transitions authorized on both reporting windows.

- Management explanations captured verbatim — Teradyne's revenue recognition commentary ties a portion of reported revenue to undelivered hardware, extended warranties, training, application support, and post-contract support, and its Technoprobe stake is accounted for under the equity method, with results reported on a (omitted) lag applied consistently period to period. Marketable securities classification frames equity and debt mutual funds under Level 1 and available-for-sale debt securities under Level 2, where the vast majority of Level 2 holdings are fixed income securities priced by third-party vendors using the most recent observable market information or, where specific prices are not available, identical or comparable securities transactions.

- Analyst inference drawn from the filing evidence — both top-line and bottom-line authorized comparisons point in the same direction (revenue higher, net income higher) on both the quarter and the year-to-date window, and the filings narrative around post-contract support and warranty deferrals signals that an unknown share of current-period revenue will convert to earnings in later periods rather than this one. The filing evidence does not attribute this change to any single cause.. - Counter-evidence and tension in the filing — the equity-method lag on Technoprobe means a slice of Teradyne's reported earnings and other comprehensive income reflects an earlier period's operating reality at the affiliate, which can mask or smooth quarter-to-quarter swings; the (omitted) lag length is not stated in the quoted material, so the magnitude of that smoothing cannot be sized from the filing alone.

- Unknowns the filing does not resolve — segment-level revenue or profit contribution for the relevant windows is not disclosed in the quoted text, peer or industry comparisons are not provided, and the proportion of revenue tied to deferred service elements versus point-in-time hardware sales is left to investors to infer from the recognition policy wording rather than from a numeric split. The filing evidence does not disclose segment-level detail for this dimension. The filing evidence contains no peer or industry comparison.

The filing evidence does not attribute this change to any single cause.. - Metrics to watch next period — tracking whether Revenues and Net Income (Loss) Attributable to Parent maintain their authorized profit-to-profit growth trajectories on a fresh quarter and a fresh year-to-date window will be the clearest read on whether the current period's direction is sustaining, and whether the deferred-revenue mix shifts in a way that materially alters the conversion of bookings into recognized sales.