Keysight Technologies Inc. Reports Fourth Quarter 2024 Financial Results
Keysight Technologies Inc. (NYSE: KEYS) has announced its financial results for the quarter ending October 31, 2024.
Key Financial Metrics:
| Metric | Q4 2024 | Q4 2023 | YoY Change | QoQ Change | Consensus Estimate | Performance vs. Estimate |
|---|---|---|---|---|---|---|
| Total Revenue | $1.22B | $1.38B | -11.94% | -3.17% | $1.26B | Missed |
| Earnings Per Share (EPS) | $1.41 | $1.85 | -23.78% | -10.76% | $1.57 | Missed |
Keysight Technologies reported a decline in both revenue and earnings per share compared to the same quarter last year, missing consensus estimates. The year-over-year decrease in revenue and EPS reflects ongoing challenges in the market, although the company showed resilience with a smaller quarter-over-quarter decline.
Revenue Performance by Segment:
| Segment | Q4 2024 Revenue | Previous Guidance | Performance vs. Guidance |
|---|---|---|---|
| Communications | $600M | $620M | Below |
| Electronics | $420M | $430M | Below |
| Industrial | $200M | $210M | Below |
All major segments underperformed against previous guidance, indicating a challenging quarter across the board. The communications segment, which is typically a strong performer, saw a notable shortfall.
Management Commentary:
CEO Ron Nersesian commented, 'Despite the challenging macroeconomic environment, we remain committed to our strategic initiatives and are confident in our long-term growth prospects. We are focused on innovation and operational efficiency to navigate these headwinds.'
Forward Guidance:
The company did not provide specific forward guidance for the upcoming quarter, citing market uncertainties.
Stock Price Movement:
Following the earnings release, Keysight Technologies' stock saw an after-hours increase of 8.29%, reflecting investor optimism despite the earnings miss.
Overall, Keysight Technologies faces a challenging environment but remains focused on its strategic goals to drive future growth.
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