Keysight Technologies Q3 revenue beats estimates on commercial communications strength
Keysight Technologies Q3 revenue beats estimates on commercial communications strength
Overview
U.S. test equipment maker's preliminary Q3 revenue grew 36% yr/yr, beating analyst expectations
Adjusted EPS for preliminary Q3 beat analyst expectations
Company's Q3 cash flow from operations was $437 mln, compared to $322 mln last year
Outlook
Keysight expects Q4 revenue between $1.93 bln and $1.95 bln
Company sees Q4 non-GAAP EPS between $3.34 and $3.40
Q4 revenue guidance midpoint implies about 37% year-over-year growth
Result Drivers
COMMERCIAL COMMUNICATIONS GROWTH - Co said 56% revenue growth in commercial communications drove strong Q3 results
INDUSTRIAL MARKET DEMAND - Co said 21% revenue growth in Electronic Industrial Solutions Group was driven by demand across semiconductor, general electronics, and automotive and energy markets
Company press release: ID:nBw1PpTlBa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $1.85 bln | $1.74 bln (10 Analysts) |
Q3 Adjusted EPS | Beat | $3.07 | $2.48 (10 Analysts) |
Q3 EPS |
| $2.30 |
|
Q3 Adjusted Net Income | Beat | $531 mln | $421.79 mln (9 Analysts) |
Q3 Net Income |
| $397 mln |
|
Q3 Orders |
| $2.09 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for Keysight Technologies, Inc. is $396.00, about 9.6% above its August 17 closing price of $361.15
The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 36 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)