Keysight Technologies (KEYS.N) reported better-than-expected fourth-quarter earnings on Monday, November 20. 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’s revenue from segments such as aerospace, defense, and government saw a 4% increase 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, exceeding the average analysts’ estimate of $1.87 per share.
Despite the positive earnings report, Keysight mentioned ongoing challenges 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 LSEG estimates’ expectations.
After the earnings report was released, shares of Keysight were up 2.4% at $138.20. This report was covered by Priyamvada C and Nathan Gomes in Bengaluru and edited by Shilpi Majumdar.
