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Keysight tops 3Q profit forecasts

August 17, 2016

SANTA ROSA, Calif. (AP) — Keysight Technologies Inc. (KEYS) on Wednesday reported fiscal third-quarter net income of $91 million.

On a per-share basis, the Santa Rosa, California-based company said it had profit of 53 cents. Earnings, adjusted for one-time gains and costs, were 63 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.

The electronic measurement technology company posted revenue of $715 million in the period. Revenue including acquisition fair-value adjustments was $718 million. Three analysts surveyed by Zacks expected $718.7 million.

For the current quarter ending in October, Keysight expects its per-share earnings to range from 57 cents to 71 cents.

The company said it expects revenue in the range of $715 million to $755 million for the fiscal fourth quarter.

Keysight shares have increased roughly 5 percent since the beginning of the year. They closed trading on Wednesday at $29.68, a decline of slightly more than 2 percent in the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KEYS at http://www.zacks.com/ap/KEYS

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Keywords: Keysight, Earnings Report

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This story has been corrected to show that the company posted third-quarter revenue of $715 million in the period, and revenue including acquisition fair-value adjustments was $718 million, not $707 million.

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