Financial Data and Key Metrics Changes - Fourth quarter revenue was $1,287 million, down 2% year-over-year or down 5% on a core basis, exceeding guidance [30] - Full-year revenue was $4,979 million, down 9% as reported or down 12% on a core basis [32] - Earnings per share for the fourth quarter was $1.65, with full-year earnings per share at $6.27 [32][33] - Operating margin for Q4 was 26%, or 28% on a core basis, with a gross margin of 64.5% [31] Business Line Data and Key Metrics Changes - Communications Solutions Group (CSG) revenue was flat year-over-year at $894 million, with a 4% growth in Commercial Communications and a 6% decline in Aerospace, Defense, and Government [34] - Electronic Industrial Solutions Group (EISG) revenue was down 6% year-over-year at $393 million, with mixed orders [35] - Software and Services revenue grew 8% in Q4, accounting for 39% of total revenue, with annual recurring revenue growing 16% to approximately $1.5 billion [25][26] Market Data and Key Metrics Changes - Orders grew 1% year-over-year, driven by strength in AI and strong bookings in Aerospace, Defense, and Government [8] - The automotive market faced headwinds, with production-related demand stable but cautious due to slowing EV sales [22] - Demand in wireline markets remained strong due to AI data center infrastructure expansion [12] Company Strategy and Development Direction - The company is focused on a software-centric solutions strategy, investing in organic growth opportunities and selective M&A [10] - Emphasis on expanding capabilities in AI and 6G research, with collaborations in Open RAN and defense modernization [15][17] - The company aims to capitalize on opportunities as markets recover, leveraging its differentiated portfolio and customer engagement [10][27] Management's Comments on Operating Environment and Future Outlook - Management noted a mixed demand environment with gradual recovery expected in FY'25, projecting revenue growth at the low end of the 5% to 7% long-term target [37] - The company expressed confidence in the Aerospace and Defense sector, despite short-term uncertainties due to government budget changes [47] - Management highlighted the resilience of the business model, with strong cash flow and a commitment to returning capital to shareholders [9][36] Other Important Information - The company ended the quarter with $1.8 billion in cash and cash equivalents, generating $328 million in free cash flow [36] - Share repurchases totaled $150 million in Q4, with full-year repurchases amounting to $439 million [36] Q&A Session Summary Question: Wireless business recovery outlook - Management expressed increased confidence in the wireless segment, noting stabilization and growth in infrastructure related to Open RAN and 6G [45] Question: Concerns in Aerospace and Defense segment - Management indicated a clear long-term trajectory for the Aerospace and Defense business, despite some short-term uncertainties due to government budget changes [46] Question: AI's impact on wireline business - The wireline business has exceeded $1 billion in orders, driven by AI-related infrastructure investments, with expectations for continued growth [52] Question: Software and Services growth impact - The software segment is expected to positively impact gross margins, with ongoing investments in virtual simulation and emulation driving resilience [53][54] Question: Automotive market challenges - Management acknowledged challenges in the automotive sector but highlighted opportunities in software-defined vehicles and charging infrastructure [89] Question: M&A strategy and capital allocation - The company remains focused on organic growth while evaluating selective M&A opportunities, with a commitment to maintaining buyback programs [101][103]

Financial Performance - Keysight reported revenue of $1.29 billion for the quarter ended October 2024, a year-over-year decline of 1.8% [1] - EPS for the quarter was $1.65, compared to $1.99 in the same period last year [1] - Revenue exceeded the Zacks Consensus Estimate of $1.25 billion by 2.68% [1] - EPS surpassed the consensus estimate of $1.57 by 5.10% [1] Segment Performance - Communications Solutions Group revenue was $894 million, a 0.3% increase year-over-year and above the $872.19 million estimate [3] - Commercial Communications revenue reached $591 million, a 4.1% increase year-over-year and above the $571.21 million estimate [3] - Aerospace, Defense & Government revenue was $303 million, a 6.2% decrease year-over-year but slightly above the $300.98 million estimate [3] - Electronic Industrial Solutions Group revenue was $393 million, a 6.4% decrease year-over-year but above the $379.96 million estimate [3] - Income from operations for Electronic Industrial Solutions Group was $83 million, exceeding the $80.74 million estimate [3] - Income from operations for Communications Solutions Group was $249 million, surpassing the $236.85 million estimate [3] Stock Performance - Keysight shares returned -4.1% over the past month, underperforming the Zacks S&P 500 composite's +0.6% change [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]

Keysight (KEYS) came out with quarterly earnings of $1.65 per share, beating the Zacks Consensus Estimate of $1.57 per share. This compares to earnings of $1.99 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.10%. A quarter ago, it was expected that this electronic measurement technology company would post earnings of $1.35 per share when it actually produced earnings of $1.57, delivering a surprise of 16.30%.Over the last f ...

Financial Performance - Fourth quarter revenue was $1.29 billion, a slight decrease from $1.31 billion in the same quarter last year [3]. - GAAP net loss for the fourth quarter was $73 million, or $0.42 per share, compared to a net income of $226 million, or $1.28 per share in Q4 2023 [4]. - Non-GAAP net income for the fourth quarter was $288 million, or $1.65 per share, down from $352 million, or $1.99 per share in Q4 2023 [4]. - Fiscal year 2024 revenue totaled $4.98 billion, down from $5.46 billion in fiscal year 2023 [5]. - GAAP net income for fiscal year 2024 was $0.61 billion, or $3.51 per share, compared to $1.06 billion, or $5.91 per share in fiscal year 2023 [5]. - Non-GAAP net income for fiscal year 2024 was $1.10 billion, or $6.27 per share, down from $1.49 billion, or $8.33 per share in fiscal year 2023 [5]. - Net income for the year ended October 31, 2024, was $614 million, down from $1,057 million in 2023, representing a decrease of 42% [26]. - The company reported a diluted EPS of $3.51 for the year ended October 31, 2024, down from $5.91 in 2023 [29]. Cash Flow and Assets - Cash flow from operations for fiscal year 2024 was $1.05 billion, compared to $1.41 billion in the previous year [6]. - Free cash flow for the year ended October 31, 2024, was $905 million, compared to $1,212 million in 2023, a decline of 25.3% [34]. - Total current assets decreased from $4,809 million in 2023 to $4,257 million in 2024, a decline of approximately 11.4% [23]. - Cash and cash equivalents decreased from $2,472 million in 2023 to $1,796 million in 2024, a reduction of 27.4% [23]. Liabilities and Equity - Total liabilities increased from $4,029 million in 2023 to $4,164 million in 2024, an increase of approximately 3.3% [23]. - Long-term debt increased from $1,195 million in 2023 to $1,790 million in 2024, an increase of 49.7% [23]. - The company’s total stockholders' equity rose from $4,654 million in 2023 to $5,105 million in 2024, an increase of 9.7% [23]. Segment Performance - The Communications Solutions Group reported revenue of $894 million in Q4, flat year-over-year, with a 4% growth in commercial communications [7]. - The Electronic Industrial Solutions Group reported revenue of $393 million in Q4, down 6% year-over-year due to manufacturing-related spending constraints [8]. - Aerospace, Defense and Government revenue decreased by 6% to $303 million in Q4'24 compared to $323 million in Q4'23, and decreased by 8% to $1,149 million for FY24 compared to $1,250 million for FY23 [38]. - Commercial Communications revenue increased by 4% to $591 million in Q4'24 compared to $568 million in Q4'23, but decreased by 7% to $2,271 million for FY24 compared to $2,435 million for FY23 [38]. - Electronic Industrial revenue decreased by 6% to $393 million in Q4'24 compared to $420 million in Q4'23, and decreased by 12% to $1,559 million for FY24 compared to $1,779 million for FY23 [38]. - Total revenue for Q4'24 was $1,287 million, a decrease of 2% from $1,311 million in Q4'23, and total revenue for FY24 was $4,979 million, down 9% from $5,464 million in FY23 [38]. Future Projections - For the first fiscal quarter of 2025, revenue is expected to be between $1.265 billion and $1.285 billion, with non-GAAP earnings per share projected between $1.65 and $1.71 [10]. Non-GAAP Financial Measures - Management emphasizes the use of non-GAAP financial measures to provide a clearer view of the company's performance, excluding certain items like acquisition-related costs and share-based compensation [40]. - Core Revenue excludes the impact of foreign currency changes and revenue from recent acquisitions, aiding in the analysis of underlying business trends [40]. - Free cash flow is defined as cash provided by operating activities adjusted for net investments in property, plant, and equipment [40]. - Non-GAAP measures are intended to enhance investors' understanding of the company's ongoing performance and facilitate comparisons with historical data [40]. - Management acknowledges that excluded costs from non-GAAP measures are actual expenses that may impact cash availability [40]. - The company plans to continue evaluating its long-term projected non-GAAP tax rate based on various factors, including geographic earnings mix and tax law changes [40].

Keysight Technologies, Inc. KEYS will release earnings results for its fourth quarter, after the closing bell on Tuesday, Nov. 19.Analysts expect the Santa Rosa, California-based bank to report quarterly earnings at $1.57 per share, down from $1.99 per share in the year-ago period. Keysight projects to report revenue of $1.26 billion for the recent quarter, compared to $1.31 billion a year earlier, according to data from Benzinga Pro.On Oct. 28, Keysight and Analog Devices, Inc. ADI collaborated to create a ...

Demo to Highlight Spectra7's GC1122 and Keysight's AresONE-M 800GE Layer 1-3 Test System ATLANTA, Nov. 19, 2024 /PRNewswire/ -- (TSXV:SEV) (OTCQB:SPVNF) Spectra7 Microsystems Inc. ("Spectra7" or the "Company"), a leader in high-performance analog semiconductors for powering the AI revolution in broadband connectivity markets, hyperscale data centers, and Spatial Computing, and Keysight, a leading provider of electronic design, test, security, and software solutions, announced they will be demonstrating robu ...

Keysight Technologies, Inc. (KEYS) recently announced that it has entered into an agreement to provide its electronic design automation (EDA) software to six of the eight hubs involved in the U.S. Microelectronics Commons (Commons) initiative. This collaborative effort is part of the broader $2 billion, four-year program established under the CHIPS and Science Act to accelerate the development and prototyping of domestic microelectronics hardware, as well as to foster workforce development within the indust ...

Keysight Technologies, Inc. (KEYS) recently announced that it has successfully assisted Samsung Electronics in validating FiRa 2.0 secure test cases on the Exynos Connect U100 chipset. The breakthrough was achieved using Keysight’s state-of-the-art Ultra-Wideband (UWB) test solution, specifically designed to meet the Physical Layer (PHY) conformance testing requirements of UWB devices.UWB is an energy-efficient radio technology that is utilized in high-bandwidth communications due to its precise range acros ...

Wall Street analysts forecast that Keysight (KEYS) will report quarterly earnings of $1.57 per share in its upcoming release, pointing to a year-over-year decline of 21.1%. It is anticipated that revenues will amount to $1.25 billion, exhibiting a decline of 4.4% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a c ...

Keysight Technologies, Inc. (KEYS) is scheduled to report fourth-quarter fiscal 2024 results on Nov. 19, after the closing bell. It pulled off a trailing four-quarter earnings surprise of 6.67% on average. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Based in Santa Rosa, CA, the electronic design company is expected to have recorded a revenue contraction year over year owing to soft demand in Electronic Industrial Solutions Group. However, strong focus on product innovation and p ...