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 aerospace and defense industries. Their products include oscilloscopes, network emulators, and software among others.
Despite the challenges faced by supply chain constraints and elevated raw material costs, Keysight reported 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 was higher than the average analysts’ estimate of $1.87 per share.
Keysight also provided a forecast for their first-quarter profit in 2024, which was slightly lower than the expectations of LSEG estimates. Despite this news, shares of the company were up 2.4% at $138.20 after the earnings report was released. This report was covered by Priyamvada C and Nathan Gomes in Bengaluru and edited by Shilpi Majumdar.