Filing Flows › Teradyne (TER) › Q2 2026 › vs Q1 2026
Teradyne (TER) Q2 2026 vs Q1 2026 (quarter over quarter)
Teradyne's revenue rose $46.5M (+4%) from $1.3B in Q1 2026 to $1.3B in Q2 2026. The biggest changes: Product +$48.4M (+4%); Service −$1.9M (-1%). Gross margin 59.8% against 60.9% (-1.1 pts).
Teradyne, Q2 2026: revenue $1.3B (+104% year over year), operating margin 32.9%, net earnings $375M, operating cash flow $469M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 59.8% | 60.9% | -1.1 pts |
| Operating margin | 32.9% | 36.9% | -3.9 pts |
| Net margin | 28.2% | 31.1% | -2.9 pts |
| Free cash flow margin | 28.5% | 15.6% | +12.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Product | $1.2B | $1.1B | $48.4M | +4% |
| Service | $138M | $140M | −$1.9M | -1% |
| Revenue | $1.3B | $1.3B | $46.5M | +4% |
| Gross profit | $795M | $781M | $13.7M | +2% |
| Cost of revenue | $534M | $502M | $32.8M | +7% |
| Operating profit | $438M | $473M | −$35.2M | -7% |
| Operating expenses | $357M | $308M | $48.9M | +16% |
| Pre-tax earnings | $442M | $461M | −$19.4M | -4% |
| Research & development | $156M | $136M | $20.7M | +15% |
| SG&A | $193M | $167M | $25.8M | +15% |
| Other operating costs | $8.0M | $5.6M | $2.4M | +42% |
| Net earnings | $375M | $399M | −$24.0M | -6% |
| Income tax | $66.8M | $62.2M | $4.6M | +7% |
| Depreciation & amortization | $33.6M | $32.7M | $995K | +3% |
| Share-based compensation | $20.1M | $21.9M | −$1.8M | -8% |
| Working capital & other | $40.5M | −$188M | $229M | — |
| Operating cash flow | $469M | $265M | $204M | +77% |
| Free cash flow (OCF − capex) | $378M | $200M | $178M | +89% |
| Capital expenditures | $90.7M | $64.7M | $26.0M | +40% |
Questions
How much did Teradyne's revenue grow quarter over quarter in Q2 2026?
Teradyne's revenue rose $46.5M (+4%) from $1.3B in Q1 2026 to $1.3B in Q2 2026.
What drove Teradyne's revenue change in Q2 2026?
Product +$48.4M (+4%); Service −$1.9M (-1%).