Onto Innovation reports Q3 EPS 96c, consensus 95c

Reports Q3 revenue $207M, consensus $215.2M. Michael Plisinski, chief executive officer of Onto Innovation, commented, “We are proud of our longstanding partnerships with the market leaders enabling the new era of AI through their innovations in 3D and 2.5D packaging. By delivering comprehensive integrated inspection and metrology solutions, we are helping our partners gain the insights necessary to ramp these complex interconnects critical to the performance required to support novel high performance compute architectures. We are optimistic for the continuation of this trend into 2024 based on recent Gartner data forecasting AI processor unit growth to more than double in 2024 followed by another 85% growth in 2025.”