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Keysight Technologies exceeds quarterly profit expectations


Nov 20, 2023

Keysight Technologies (KEYS.N) reported better-than-expected fourth-quarter profit on Monday, as the company continued to benefit from strong demand in sectors such as aerospace and defense. The company provides electronic design and test products for use in several industries, including aerospace and defense. Specifically, these products are used in electromagnetic spectrum operations, radar, signal monitoring, and space and satellite applications.

Revenue from aerospace, defense, and government segments saw a 4% increase, which the company attributed to investments in defense technology modernization, electromagnetic spectrum operations, radar, and space and satellite. Keysight’s adjusted earnings per share for the quarter through October were reported at $1.99, surpassing analysts’ average estimate of $1.87 per share.

Nevertheless, the company, along with many others, continues to face challenges related to supply chain constraints and high raw material costs. For its first quarter of 2024, Keysight forecast an adjusted profit ranging from $1.53 to $1.59 per share, falling short of LSEG estimates of $1.68 per share.

After the bell, shares of Keysight Technologies were up by 2.4% at $138.20. Reporting for Reuters by Priyamvada C and Nathan Gomes in Bengaluru, the article was edited by Shilpi Majumdar.

By Editor

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