• Keysight Technologies has announced its financial results for the first fiscal quarter ended 31 January 2023.
• The U.S.-based company reported first-quarter revenue of $1.38 billion.
• Its revenue for the second fiscal quarter of 2023 is expected to be between $1.37 billion and $1.39 billion.

 
Revenue grew 10 percent to reach $1.38 billion, compared with $1.25 billion last year, or 14 percent on a core basis, which excludes the impact of foreign currency changes and revenue associated with businesses acquired or divested within the last twelve months.

GAAP net income was $260 million, compared with $229 million, in the first quarter of 2022.

Non-GAAP net income was $363 million, compared with $305 million in the first quarter of 2022.

Keysight acquired 711 thousand shares in the open market at an average share price of $176.44, for a total consideration of $125 million.

As of January 31, 2023, cash and cash equivalents totaled $2.23 billion.

(*)GAAP : Generally Accepted Accounting Principles

• Communications Solutions Group (CSG)
  CSG reported revenue of $939 million in the first quarter, up 7 percent over last year, with strength in 5G, O-RAN, 800G, and terabit communications solutions, as well as increased U.S. government spending and strength in space and satellite, including new applications for non-terrestrial networks. CSG reported growth across all regions.
• Electronic Industrial Solutions Group (EISG)
  EISG reported revenue of $442 million in the first quarter, up 19 percent over last year, driven by growth in next-generation automotive and energy solutions, and general electronics. EISG reported growth across all regions.