Teradyne Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Teradyne Inc. (TER) released a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $120.05 million, or $0.73 per share. This compares with $197.79 million, or $1.16 per share, in last year's second quarter.

Excluding items, Teradyne Inc. reported adjusted earnings of $129.0 million or $0.79 per share for the period.

Analysts on average had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.6% to $684.44 million from $840.77 million last year.

Teradyne Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $120.05 Mln. vs. $197.79 Mln. last year. -EPS (Q2): $0.73 vs. $1.16 last year. -Analyst Estimates: $0.66 -Revenue (Q2): $684.44 Mln vs. $840.77 Mln last year.