Keysight Technologies posts jump after jump in third quarter revenue

((Automatic translation by Reuters, see disclaimer https://bit.ly/rtrsauto))

(Updates)

August 21 – ** Keysight Technologies shares

HORSES.N

increased 12.4% to $155.8; daytime was the highest in more than three months

** The electronics maker’s revenue fell ~12% year over year to $1.22 billion, but beat analysts’ average forecast of $1.19 billion – LSEG data

** Quarterly profit of $1.57/shr, above estimate of $1.54/shr, driven by increased orders despite macroeconomic pressures

** Q3 orders rise to $1.25 billion from $1.24 billion a year ago

** The group is forecasting revenue of $1.24 billion to $1.26 billion for the fourth quarter, compared with a forecast of $1.25 billion

**Q4 adjusted EPS was expected to be between $1.53 and $1.59, versus $1.54 forecast

** JP Morgan raises forecast from $155 to $165; states that “KEYS execution relative to margins and tax rates leads to an increase in our estimates for FY25 and FY26”

** Wells Fargo withdraws coverage with the “overweight” rating; Says Company Order and Backup, Along with AI-Driven Wireline Growth, Should Drive Positive Sense

** Nine of 13 brokerages rate the stock at “buy” or higher, three at “hold” and one at “sell”; their median forecast is $165.00

** Including session moves, KEYS is down 2.24% year to date, compared to the S&P 500’s 17.44% rise.

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