Keysight Technologies (KEYS.N) reported a better-than-expected fourth-quarter profit 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 ongoing challenges in various sectors caused by supply chain constraints and elevated raw material costs, Keysight saw a 4% increase in revenue from segments such as aerospace, defense, and government. This was aided by investments in defense technology modernization, electromagnetic spectrum operations, radar, space, and satellite.
The company’s adjusted earnings per share for the quarter through October came in at $1.99 per share, which was higher than the average analysts’ estimate of $1.87 per share. In addition to this positive news, Keysight also provided a forecast for their first-quarter profit in 2024 that was slightly higher than the expectations of LSEG estimates.
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.