Categories AlphaGraphs, Earnings, LATEST, Technology

Keysight Technologies tops Q3 estimates; lifts 2019 outlook

Keysight Technologies (NYSE: KEYS) rose about 7% in the extended hours as the company beat third quarter 2019 estimates and raised the fiscal 2019 outlook. GAAP revenue and non-GAAP revenue, both grew 8% to $1.087 billion and $1.088 billion, respectively. Non-GAAP EPS grew 41% to $1.25 in the third quarter ended July 31, 2019.

Analysts had projected the company to post earnings of $1.02 per share on revenue of $1.05 billion. Keysight shares ended up 2.11% at $89.14 today.

Keysight Technologies (KEYS) Q3 2019 earnings results

The Santa Rosa, California-based firm lifted its non-GAAP revenue outlook for fiscal 2019. The company now expects full-year non-GAAP revenue growth to be between 9% and 10% versus the previous growth guidance of 7% and 8%.

Keysight’s fourth quarter 2019 GAAP revenue is expected to be in the range of $1.078 billion to $1.098 billion and non-GAAP revenue is expected to be in the range of $1.080 billion to $1.100 billion. Non-GAAP EPS for Q4 is expected to be in the range of $1.14 to $1.20.

“Keysight delivered another excellent quarter with both revenue and earnings exceeding the high-end of our guidance. Record third quarter revenue was driven by growth across the majority of our end markets as we continued to capture a significant portion of the demand we see in the marketplace,” said CEO Ron Nersesian.

Read: iQiyi (IQ) stock plunges after reporting Q2 results

Non-GAAP revenue from Commercial Communications and Electronic Industrial Solutions end markets increased 23%, and 3%, respectively. However, non-GAAP revenue from Aerospace, Defense & Government and Ixia Solutions end markets registered a decline of 1% and 7%, respectively in the third quarter.

Also Read:  Johnson & Johnson Q1 earnings slide on flat revenue growth

KEYS stock, which reached a 52-week high on July 1, had gained 43% so far this year and 47% in the trailing 12 months.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

Cloudera (CLDR) posts narrower loss in Q1, beats estimates

Cloudera Inc. (NYSE: CLDR) reported a narrower loss in the first quarter of 2021 driven by lower costs and expenses as well as higher revenue. The results exceeded analysts' expectations.

CrowdStrike (CRWD): Shift to digital transformation presents huge expansion opportunity

CrowdStrike Holdings Inc. (NASDAQ: CRWD) has witnessed strong momentum with the stock gaining over 96% since the beginning of the year. The company delivered strong results for the first quarter

Why Zscaler (ZS) stock reached all-time high on Monday?

Internet security has been evolving over time, aided by the rapid adoption of cloud computing, the ubiquity of mobile phones, and the growing threats that cause serious problems to enterprises

Tags

Top