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Keysight Technologies beats quarterly profit estimates

(Reuters) - Keysight Technologies beat market estimates for fourth-quarter profit on Monday, as the electronic equipment maker continued to benefit from steady demand in segments such aerospace and defense.

Keysight provides electronic design and test products such as oscilloscopes, network emulators and software that are used in aerospace and defense industries, including electromagnetic spectrum operations, radar, signal monitoring, space, satellite, commercial and military aircraft.

The company said it saw a 4% rise in revenue from segments aerospace, defense and government, aided by investments in defense technology modernization, electromagnetic spectrum operations, radar and space and satellite.

On an adjusted basis, it earned $1.99 per share in the quarter through October, compared with average analysts' estimate of $1.87 per share, according to LSEG data.

However, companies across several sectors continue to grapple with supply chain constraints and elevated raw material costs.

California-based Keysight forecast its first-quarter 2024 adjusted profit to be between $1.53 and $1.59 per share, compared with LSEG estimates of $1.68 per share.

Shares of the company were up 2.4% at $138.20 after the bell.

(Reporting by Priyamvada C and Nathan Gomes in Bengaluru; Editing by Shilpi Majumdar)

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