July 26 (Reuters) - Chip-testing machines maker Teradyne
on Wednesday surpassed estimates for sales and profit in the second quarter, helped by growing demand for semiconductors that power artificial intelligence $(AI)$ technology.
Higher shipments in Teradyne's core semiconductor-test segment more than offset weaker robotics demand, said Teradyne CEO Greg Smith.
The company's shares rose 1.8% to $116.7 in extended trading, after its forecast for third-quarter revenue of between $650 million to $710 million came in above analysts' estimates of $671.5 million, according to Refinitiv.
For the current quarter, strong demand is seen from data center and automotive end-markets while order rates in robotics may decline, the company said.
The boom in demand for AI capabilities have benefited companies in the chip supply chain, softening the impact from a post-pandemic downturn in sales of personal computers and smartphones.
Teradyne supplies technology to test chips and electronic equipment to customers including chipmaker Taiwan Semiconductor Manufacturing Co , chip designer Qualcomm and electronics firm Samsung . It also sells robotic systems to customers in the manufacturing sector.
Revenue in the quarter ended July 2 dropped to $684.4 million from $840.8 million a year ago. Analysts had expected $658.2 million, according to Refinitiv.
The company earned 79 cents per share on an adjusted basis, higher than estimates of 66 cents.
(Reporting by Zaheer Kachwala and Yuvraj Malik in bengaluru; Editing by Devika Syamnath)
((Zaheer.Kachwala@thomsonreuters.com;))
