SANTA ROSA, Calif. - Keysight Technologies , Inc. (NYSE:KEYS) reported better-than-expected second quarter results and provided a solid outlook, sending shares up 3% in after-hours trading.
The electronic measurement company posted adjusted earnings per share of $1.70 for the quarter ended April 30, surpassing the analyst consensus of $1.65. Revenue came in at $1.31 billion, topping estimates of $1.28 billion and representing a 7% YoY increase.
"This quarter’s performance underscores the strength of our long-term strategy, deep customer engagement and disciplined execution," said Satish Dhanasekaran, Keysight’s President and CEO.
For the third quarter, Keysight expects revenue between $1.305 billion and $1.325 billion, compared to the $1.3 billion consensus. The company forecasts adjusted EPS of $1.63 to $1.69, largely in line with analysts’ $1.69 estimate.
Keysight’s Communications Solutions Group saw revenue rise 9% YoY to $913 million. The Electronic Industrial Solutions Group posted 5% revenue growth to $393 million.
Free cash flow for the quarter surged to $457 million from $74 million a year ago. The company ended the period with $3.12 billion in cash and cash equivalents.
"Even as we are monitoring the overall macroeconomic environment, we continue to see a healthy funnel of opportunities and are raising full-year growth expectations to the midpoint of our long-term 5-7% target," Dhanasekaran added.
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