12:04 PM EDT, 07/25/2024 (MT Newswires) -- (Updates with latest stock move in the headline and first paragraph.)

Teradyne ( TER ) shares fell almost 12% in recent Thursday trading after the company reported results for Q2 and provided guidance for Q3.

The company reported Q2 non-GAAP earnings late Wednesday of $0.86 per diluted share, up from $0.79 per share a year earlier.

Analysts polled by Capital IQ expected $0.77.

Net revenue for the quarter ended June 30 increased to $729.9 million from $684.4 million a year earlier. Analysts surveyed by Capital IQ expected $701.1 million.

For Q3, the company said it expects non-GAAP EPS of $0.66 to $0.86 on revenue of $680 million to $740 million. The consensus is for normalized EPS of $0.86 on revenue of $716.4 million.

Price: 126.88, Change: -16.66, Percent Change: -11.61