Keysight Technologies reported revenue of $1.38 billion for its third fiscal quarter ended July 31, 2023. flat compared with last year, and up 1 percent on a core basis. Non-GAAP net income was $393 million, or $2.19 per share, compared with $363 million, or $2.01 per share in the third quarter of 2022.
“Keysight delivered solid third quarter results, demonstrating the strength of our portfolio and the resilience of our financial model,” said Satish Dhanasekaran, Keysight’s President and CEO. “Despite near-term macro challenges, Keysight’s diversified business, strong customer engagement through our differentiated solutions portfolio, and durable operating model give us confidence in our ability to capitalize on the long-term secular growth trends of our markets, as well as outperform in a variety of market conditions.”
Highlights
- Communications Solutions Group (CSG) revenue was $918 million in the third quarter, down 5 percent over last year, reflecting a 12 percent decline in commercial communications, while aerospace, defense, and government increased 11 percent driven by technology modernization, space and satellite, radar, and research in 5G and 6G technologies.
- Electronic Industrial Solutions Group (EISG) revenue was $464 million in the third quarter, up 14 percent over last year, driven by growth across semiconductor solutions, general electronics, and next-generation automotive and energy technologies.
Regarding its outlook for the fourth fiscal quarter of 2023, revenue is expected to be in the range of $1.29 billion to $1.31 billion. Non-GAAP earnings per share for the fourth fiscal quarter of 2023 are expected to be in the range of $1.83 to $1.89.