Keisight Technologies (KEIS.N) reported better-than-expected fourth-quarter profit on Monday, November 20th. The company provides electronic design and test products used in the aerospace and defense industries. Their products include oscilloscopes, network emulators, and software, among others.

Keysight saw a 4% increase in revenue in segments such as aerospace, defense, and government. This was helped by investments in the modernization of defense technology, 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 analysts’ average estimate of $1.87 per share.

Despite the positive earnings report, the company cited ongoing challenges across sectors caused by supply chain constraints and increased raw material costs. They also gave a forecast for their profit in the first quarter of 2024, which was slightly lower than the expectations of LSEG estimates.

After the earnings report was released, Keisight’s shares rose 2.4% to $138.20. This report was reported by Priiamvada C and Nathan Gomes in Bengaluru and edited by Shilpi Majumdar

By Editor

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