Keysight (KEYS) Earnings & Revenues Beat Estimates In Q1
Zacks Investment Research | Feb 21, 2019 09:43PM ET
Keysight Technologies Inc. (NYSE:KEYS) delivered first-quarter fiscal 2019 non-GAAP earnings of 93 cents per share beating the Zacks Consensus Estimate by 14 cents. Further, the figure soared 82.4% from the year-ago quarter and came higher than management’s guided range of 76-82 cents per share.
Non-GAAP revenues increased 18% year over year to $1.009 billion surpassing the higher end of management’s guided range of $965-$985 million. Non-GAAP core revenues (excluding the impact of currency and revenues from acquisitions completed within the last 12 months) increased 20% year over year to $1.018 billion.
Meanwhile, GAAP revenues advanced 20% from the year-ago quarter to $1.006 billion. The Zacks Consensus Estimate for revenues is pegged at $978 million.
Management is optimistic about capitalizing on key growth segments of a number of end markets. The company’s focus on launching new solutions for growth markets like 5G, Internet of Things (IoT), next-generation wireless, high-speed datacenters and automotive & energy is a key catalyst.
Coming to price performance, shares of the company are up more than 2% in after-hours trading. This can primarily be attributed to robust first-quarter results and promising outlook for second quarter. Notably, Keysight stock has returned 76.6% in the past year, outperforming the Zacks Investment Research
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