Keysight Technologies Q1 earnings rise 33%
Keysight Technologies Inc. (NYSE: KEYS) on Thursday reported fiscal first-quarter profit of $229 million, up 33% from a year before.
On a per-share basis, the Santa Rosa, California-based company said it had net income of $1.24. Earnings, adjusted for one-time gains and costs, were $1.65 per share.
“The Keysight team delivered a strong start to the year, exceeding the high end of our revenue and EPS guidance. Continued robust demand for our differentiated solutions resulted in record orders,” said Ron Nersesian, chairman, president and CEO, in the news release about quarterly results. “By enabling the rapid progression of disruptive technologies and accelerating innovation to connect and secure the world, we are better positioned than ever to capitalize on long-term secular growth trends and deliver above-market growth.”
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.
The electronic measurement technology company posted revenue of $1.25 billion in the period, up 6% from the year before, matching Street forecasts. Orders were up 22% over the year, at $1.5 billion.
For the current quarter ending in May, Keysight expects its per-share earnings to range from $1.63 to $1.69.
The company said it expects revenue in the range of $1.29 billion to $1.31 billion for the fiscal second quarter.