On Monday, November 20, Keysight Technologies (KEYS.N) reported a better-than-expected fourth-quarter profit. The company provides electronic design and test products used in the aerospace and defense industries. Their products include oscilloscopes, network emulators, and software, among others.
Keysight saw a 4% increase in revenue from segments such as aerospace, defense, and government. This growth was driven by investments in defense technology modernization, electromagnetic spectrum operations, radar, space, and satellite. On an adjusted basis, the company earned $1.99 per share in the quarter through October compared with an average analysts’ estimate of $1.87 per share.
However, despite the positive earnings report, Keysight mentioned ongoing challenges in various sectors caused by supply chain constraints and elevated raw material costs. They also provided a forecast for their first-quarter profit in 2024 that was slightly lower than expected by LSEG estimates.
After the earnings report was released, shares of the company rose 2.4% to $138.20. This report was covered by Priyamvada C and Nathan Gomes in Bengaluru and edited by Shilpi Majumdar.
In summary: Keysight Technologies reported better-than-expected fourth-quarter profits on Monday thanks to increased revenue from segments such as aerospace and defense industries driven by investments in modernization technologies like electromagnetic spectrum operations and radar systems.
Despite this positive news, Keysight acknowledged ongoing challenges caused by supply chain constraints and elevated raw material costs that may affect their operations going forward.
Looking ahead to next year’s first quarter profits, Keysight forecasted slightly lower results than expected by LSEG estimates.
The stock price of the company went up 2.4% after the earnings report was released.
This article was written by Shilpi Majumdar after reviewing coverage from Priyamvada C and Nathan Gomes in Bengaluru who covered the initial release of Keysight Technologies’ earnings report on Monday November 20th