Keysight Technologies (KEYS.N) reported a better-than-expected fourth-quarter profit on Monday, November 20, thanks to a 4% increase in revenue from segments such as aerospace, defense, and government. The company’s products include oscilloscopes, network emulators, and software among others.
The company’s strong performance was driven 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, Keysight mentioned ongoing challenges caused by supply chain constraints and elevated raw material costs. The company also provided a forecast for their first-quarter profit in 2024 that was slightly lower than the expectations of LSEG estimates.
After the earnings report was released, 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.