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.
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. On an adjusted basis, the company earned $1.99 per share in the quarter through October, compared with an average analysts’ estimate of $1.87 per share.
Despite the positive earnings report, the company mentioned the ongoing challenges in various sectors caused by supply chain constraints and elevated raw material costs. They also provided a forecast for their first-quarter profit in 2024, which was slightly lower than the expectations of LSEG estimates.
After the earnings report, 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.
In summary, Keysight Technologies reported better-than-expected profits for their fourth quarter despite ongoing challenges due to supply chain constraints and elevated raw material costs