Onto Innovation Inc. (ONTO) Tops Q1 EPS by 10c, Offers Guidance
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Onto Innovation Reports 2024 First Quarter Results
May 9, 2024 4:05 PM EDTProcess control equipment for AI packaging drives revenue to high end of guidance
WILMINGTON, Mass.--(BUSINESS WIRE)-- Onto Innovation Inc. (NYSE: ONTO) (Onto Innovation, Onto, or the Company) today announced financial results for the first fiscal quarter of 2024.
First Quarter Financial Highlights
Revenue of $229 million, driven by customer capacity expansions for high-performance computing (HPC) and high bandwidth memory (HBM) supporting AI market growth. GAAP gross margin and non-GAAP gross margin of 52%. GAAP operating income of $43 million and GAAP net income of $47... More