Keysight Technologies (KEYS: NYE) has delivered impressive results in its 4th quarter of fiscal year 2023. Following the release of its earnings report, the company’s stock price increased by over 2% after hours. The report showed a strong beat on both earnings and revenue expectations.
Key Findings from the Keysight’s Q4 Earnings:
Here are the key highlights from the Keysight’s Q4 performance, including:
- Earnings per share (EPS) of $1.99, surpassing analysts’ estimates of $1.87.
- Revenue of $1.31 billion, exceeding the consensus expectation of $1.3 billion.
- Record annual revenue of $5.46 billion, up from $5.42 billion in fiscal 2022.
- Strong performance in aerospace, defense, and automotive end markets.
These impressive results underscore Keysight’s resilience and adaptability in the face of ongoing supply chain challenges and inflationary pressures. The company’s robust product portfolio and strong customer relationships have enabled it to navigate these hurdles effectively and deliver consistent growth.
Keysight’s Positive Outlook for 2024:
Keysight’s positive momentum is expected to continue into 2024, as the company projects first-quarter adjusted earnings per share to range between $1.53 and $1.59, surpassing analysts’ estimates of $1.68. This optimistic outlook is fueled by several factors, including:
- Continued demand for Keysight’s solutions in key growth segments
- Growing adoption of 5G and artificial intelligence (AI)
- Solid pipeline of new product launches
Keysight’s strong Q4 performance and positive outlook for 2024 make it an attractive investment opportunity for investors seeking exposure to the high-growth tech sector. The company’s solid fundamentals, diversified product portfolio, and strong track record of execution position it well for continued success in the years to come.
Conclusion:
Keysight Technologies has delivered impressive results in its 4th quarter, exceeding earnings and revenue expectations. The company’s strong performance in key markets, coupled with a positive outlook for 2024, make it an attractive investment opportunity in the high-growth tech sector.
Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product/services forecast as indicated by major brokers covering the stock.
