- Keysight Technologies has published its financial results for the third fiscal quarter ended July 31, 2024.
- Revenu, which reached $1.22 billion in the third quarter, are expected to be between $1.245 billion and $1.265 billion in the fourth fiscal quarter 2024.
“Keysight delivered revenue and earnings above the high end of our guidance in market conditions that were stable and consistent with our expectations,” said Satish Dhanasekaran, Keysight’s President and CEO.
Revenue was $1.22 billion, compared with $1.38 billion in the third quarter of 2023.
GAAP net income was $389 million, compared with $288 million, in the third quarter of 2023.
Non-GAAP net income was $275 million, compared with $393 million in the third quarter of 2023.
Cash flow from operations was $255 million, compared to $241 million last year.
Free cash flow was $222 million, compared to $196 million in the third quarter of 2023.
As of July 31, 2024, cash and cash equivalents totaled $1.63 billion.
- Communications Solutions Group (CSG)
CSG reported revenue of $847 million in the third quarter, down 8 percent from the prior year, reflecting a 6 percent decline in commercial communications, while aerospace, defense, and government decreased 10 percent. - Electronic Industrial Solutions Group (EISG)
EISG reported revenue of $370 million in the third quarter, down 20 percent from the prior year, reflecting continued restraint in general electronics, automotive, and manufacturing-related customer spending.
