Onto Innovation (ONTO) Q2 Earnings on the Horizon: Analysts' Insights on Key Performance Measures

Wall Street analysts expect Onto Innovation (ONTO) to post quarterly earnings of $1.68 per share in its upcoming report, which indicates a year-over-year increase of 34.4%. Revenues are expected to be $325.6 million, up 28.4% from the year-ago quarter.

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

In light of this perspective, let's dive into the average estimates of certain Onto Innovation metrics that are commonly tracked and forecasted by Wall Street analysts.

The consensus among analysts is that 'Revenue- Systems and software' will reach $272.02 million. The estimate suggests a change of +26.8% year over year.

The collective assessment of analysts points to an estimated 'Revenue- Service' of $24.00 million. The estimate suggests a change of +24.7% year over year.

Analysts predict that the 'Revenue- Parts' will reach $30.13 million. The estimate indicates a year-over-year change of +51.8%.

The average prediction of analysts places 'Geographic Revenue- China' at $26.93 million. The estimate points to a change of +55.3% from the year-ago quarter.

Based on the collective assessment of analysts, 'Geographic Revenue- Japan' should arrive at $32.78 million. The estimate indicates a change of -2.9% from the prior-year quarter.

Analysts expect 'Geographic Revenue- United States' to come in at $43.92 million. The estimate indicates a year-over-year change of +59.4%.

The consensus estimate for 'Geographic Revenue- Taiwan' stands at $101.27 million. The estimate indicates a change of +54.3% from the prior-year quarter.

Analysts forecast 'Geographic Revenue- South Korea' to reach $81.15 million. The estimate indicates a year-over-year change of -1.8%.

View all Key Company Metrics for Onto Innovation here>>>

Over the past month, shares of Onto Innovation have returned -11.6% versus the Zacks S&P 500 composite's +1.7% change. Currently, ONTO carries a Zacks Rank #1 (Strong Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

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