On Monday, November 20, Keysight Technologies (KEYS.N) reported better-than-expected fourth-quarter profits. The company provides electronic design and test products used in 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 was due to 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, which exceeded the average analysts’ estimate of $1.87 per share.
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, which was slightly lower than LSEG estimates’ expectations.
After the earnings report was released, shares of the company were up 2.4% at $138.20. This report was covered by Priyamvada C and Nathan Gomes in Bengaluru and edited by Shilpi Majumdar