On Monday, November 20th, Keysight Technologies (KEYS.N) released a better-than-expected fourth-quarter profit report. The company provides electronic design and test products used in various industries including aerospace and defense. Some of their products include oscilloscopes, network emulators, and software among others.
Keysight reported a 4% increase in revenue from segments such as aerospace, defense, and government. This was due to investments in modernization of defense technology, 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 forecast their first-quarter profit for 2024 to be slightly lower than LSEG estimates.
Following the earnings report, 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.