Teradyne Inc. TER, +2.67% shares rallied in the extended session Tuesday after the electronic testing equipment maker's quarterly results and outlook topped Wall Street estimates. Teradyne shares surged 15% after hours, following a 2.7% rise to close the regular session at $48.09. The company reported second-quarter net income of $97.4 million, or 55 cents a share, compared with $101 million, or 52 cents a share, in the year-ago period. Adjusted earnings were 66 cents a share.
Analysts surveyed by FactSet had forecast earnings of 61 cents a share on revenue of $536.7 million. "We exceeded our revenue and profit guidance for the second quarter on stronger than expected results in semiconductor test as continued growth in 5G infrastructure, networking and memory test spending more than offset lower demand from automotive and industrial device makers," said Mark Jagiela, Teradyne president and chief executive, in a statement.