Onto Innovation Inc. (ONTO) shares surged 12.02% in after-hours trading on Thursday, following the release of its second-quarter fiscal 2026 financial results that significantly exceeded Wall Street expectations.
The company reported adjusted earnings per share of $1.93, handily beating the consensus estimate of $1.68. Revenue climbed 35.3% year-over-year to $343.1 million, surpassing the $325.2 million forecast. The strong performance was driven by robust demand across its segments, with Advanced Nodes revenue growing 50% sequentially and Specialty Devices and Advanced Packaging reaching an all-time high.
Adding to the positive momentum, Onto Innovation provided third-quarter guidance well above analyst projections, forecasting adjusted EPS of $2.18 to $2.38 and revenue of $380 million to $400 million, compared to consensus estimates of $1.93 and $350.6 million, respectively. The company also disclosed that its backlog exceeded $1 billion for the first time, reinforcing confidence in a strong second half of the year.
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