Keysight Technologies, Inc. (NYSE: KEYS), a provider of test and measurement equipment, has reported financial results for the second quarter of 2024.
- April-quarter revenue was $1.22 billion, compared to $1.39 billion in the corresponding quarter last year
- Net income decreased to $126 million or $0.72 per share in Q2 from $283 million or $1.58 per share a year earlier
- Adjusted net income was $247 million or $1.41 per share, vs. $380 million or $2.12 per share in Q2 2023
- Cash flow from operations was $110 million during the three months, compared to $423 million in the year-ago period
- Free cash flow decreased to $74 million in the second quarter from $370 million in the comparable quarter last year
- As of April 30, 2024, the company had cash and cash equivalents of $1.66 billion
- For the third quarter of 2024, the management forecasts revenue in the range of $1.18 billion to $1.20 billion
- Adjusted earnings per share for the third quarter of 2024 are expected to be in the range of $1.30 to $1.36