Cognex Q2 Revenue Declines 12%, a Result of Shrinking Demand for Capital Equipment
NATICK, Mass., Aug. 21, 2023 — Machine vision company Cognex reported its financial results this month, posting $242 million in revenue for the second quarter of the year, a 12% decline compared to the same quarter last year. The company attributed this decline to ongoing softness in e-commerce logistics, as well as weaker demand from its factory automation customers, particularly in the consumer electronics and semiconductor capital equipment markets. According to Cognex CEO Robert Willett, the quarter saw