Satish Dhanasekaran, Keysight CEO

Keysight results for the second quarter 2024

  • Keysight Technologies has published its financial results for the second fiscal quarter ended April 30, 2024.
  • The U.S.-based company reported sales of $1.22 billion for the second quarter of 2024, and estimates fiscal third-quarter sales of between $1.18 and $1.20 billion.

“Keysight achieved second-quarter results above the high end of our guidance. We observed pockets of growth and stability in many end markets, even though customer spending remained limited. Our outlook for the year as a whole remains unchanged, and is for modest order growth in the second half,” said Keysight President and CEO Satish Dhanasekaran (pictured).

# Second-quarter financial results
– Sales: $1.22 billion, compared with $1.39 billion in Q2 2023.
– GAAP net income: $126 million, versus $283 million in Q2 2023.
– Non-GAAP net income: $247 million, compared with $380 million in the second quarter 2023.
– Cash position: $1.66 billion at April 30, 2024.

(*)GAAP: Generally Accepted Accounting Principles.

  • Communications Solutions Group (CSG)
    The CSG business segment reported second-quarter sales of $840 million, down 10% on the previous year, reflecting a 10% decline in the commercial communications segment, while sales were down 11% in the aerospace, defense and government investment sectors.
  • Electronic Industrial Solutions Group (EISG)
    The EISG business segment reported second-quarter sales of $376 million, down 17% on the previous year, reflecting the continuing constraint on customer spending in the semiconductor and electronics production sectors.