Onto Innovation (ONTO) Q4 Earnings & Revenues Top, Fall Y/Y

Onto Innovation Inc (ONTO) reported fourth-quarter 2023 earnings of $1.06 per share, which beat the Zacks Consensus Estimate by 7.1%. The bottom line decreased 32.5% year over year.Revenues of $218.9 million beat the Zacks Consensus Estimate by 5.2%. The top line declined 13.6% year over year. The downtick can be mainly attributed to a decline in advanced nodes business and lower services parts revenues.However, revenues came in ahead of the company’s guided range of $200-$216 million owing to better-than-a ...