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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Advantest
Advantest (6857) investor relations material
Advantest Q2 2027 (Q&A) earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2027 (Q&A) earnings summary28 Oct, 2026
Executive summary
AI-related demand across GPUs, custom ASICs and CPUs drove record Q2 results and six-month records; agentic AI added unexpected CPU demand.
Faster capacity expansion supports higher second-half shipments and expected SoC tester share gains in 2026 and 2027.
Financial highlights
Q2 sales were ¥477.7B, up 30.0% QoQ and 81.7% YoY; gross profit was ¥339.8B with a 71.1% margin.
Q2 operating income reached ¥266.8B, up 18.0% QoQ and 153.0% YoY; net income was ¥193.3B, up 10.6% QoQ and 142.7% YoY.
H1 net sales rose 60.5% YoY to ¥845.2bn and operating income increased 96.5% to ¥456.8bn; income before tax was ¥510.2bn and net income ¥368.1bn.
FX-adjusted H2 top-line growth is forecast at 28% half-over-half; H1 margins benefited from a one-time inventory reversal, with margins expected to settle in the low 50s.
Outlook and guidance
FY2026 forecast rose to ¥1,863.0bn sales, ¥967.0bn operating income, ¥1,021.5bn pretax income and ¥741.5bn net income.
The revised sales forecast is ¥149.0bn above July guidance; FY2026 operating margin is forecast at 51.9%.
SoC shipments are expected to rise in Q3 and further in Q4; memory-system shipments are also expected to be strong in Q4.
The 10,000-system capacity target is being accelerated from its original FY2028-end schedule; a 20,000-system step is under internal discussion.
Fuller 2027 ATE TAM quantification is planned for the January Q3 call; Mid-Term Plan 4 is expected in May, with visibility through 2028 and 2029.
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Latest events from Advantest
- Record Q2 results lift FY26 guidance amid AI-led tester demand and capacity expansion.6857
Q2 2027 - Record sales and profits driven by AI tester demand and raised full-year outlook.6857Q1 2027 (Q&A)
- Record Q1 and raised FY26 outlook driven by surging AI-related tester demand.6857Q1 2027
- Accelerated growth, advanced testing, and global integration drive future industry leadership.6857Fireside Chat
- Record sales and profits driven by AI demand and capacity expansion, with strong growth outlook.6857Q4 2026 (Q&A)
- Record sales and profits driven by AI demand, with further double-digit growth expected.6857Q4 2026
- AI and HPC complexity is driving exponential growth in test volumes and advanced test needs.6857Investor Update
- AI and HPC tester demand drove sales and profit growth, prompting a major upward guidance revision.6857Q1 2025
- Ambitious growth and sustainability targets set, with strong focus on innovation and operational excellence.6857Investor Update
Next Advantest earnings date
Investor Day 202612 Nov, 2026
Advantest
Next Advantest earnings date
Investor Day 202612 Nov, 2026
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Frequently asked questions
Advantest Corporation is a Japanese multinational corporation primarily engaged in the manufacture of automatic test equipment (ATE) for the semiconductor industry, alongside measuring instruments for electronic system design, production, and maintenance. This includes equipment for fiber optic and wireless communications as well as digital consumer products. The company's operations are segmented into three main areas: Semiconductor and Component Test Systems, Mechatronics Systems (which includes test system peripherals), and Services, Support, and Others (focusing on customer support and system-level test products). The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.