Overview
- The company guided fourth-quarter revenue to $920 million to $1.0 billion, above the roughly $814 million LSEG consensus, and projected adjusted EPS of $1.20 to $1.46 versus about $1.02 expected.
- Third-quarter revenue came in at $769.2 million, topping the $743.8 million estimate, with adjusted EPS of $0.85 exceeding the $0.79 forecast.
- Shares rose more than 21% in after-hours trading and were up roughly 23% in pre-market action following the report and outlook.
- Management cited strong demand for system-on-a-chip testing for AI applications and strength across memory, compute, and networking, with Q4 sales expected to rise about 25% sequentially and 27% year over year.
- Michelle Turner will become CFO on November 3, succeeding Sanjay Mehta, who shifts to an executive advisor role ahead of a planned 2026 retirement.