Onto Innovation (ONTO) Q1 Earnings & Revenues Top, Up Y/Y

Onto Innovation Inc (ONTO) reported first-quarter 2024 earnings of $1.18 per share, which beat the Zacks Consensus Estimate by 7.3%. The bottom line increased 28.3% year over year.Revenues of $228.8 million beat the Zacks Consensus Estimate by 2.9%. The top line increased 14.9% year over year. The uptick can be mainly attributed to customer capacity expansions for high-performance computing and high bandwidth memory supporting AI market growth.Revenues also came in within the company’s guided range of $215- ...