Keysight Technologies surged nearly 4% in after-hours trading on Thursday after reporting fiscal third-quarter results that exceeded analyst expectations, with adjusted earnings per share of $3.07 compared to a consensus estimate of $2.48.
Revenue for the quarter reached $1.85 billion, a 37% year-over-year increase and above the Street’s forecast of $1.75 billion. The company’s Communications Solutions Group posted a 43% revenue rise, while its Electronic Industrial Solutions Group grew 21%.
Keysight’s stock, which had fallen sharply during regular trading, rallied to $354.50 in after-hours activity. The average Wall Street price target stood at $388.33, based on 10 Buy ratings, prior to the earnings release.
For the fiscal fourth quarter, Keysight guided revenue to $1.93–$1.95 billion, implying approximately 37% year-over-year growth and topping the consensus estimate of $1.82 billion. The company’s outlook reflects continued strength in its core segments amid broader market stability.
The S&P 500 was essentially flat, the Dow Jones saw modest gains, and the Nasdaq traded slightly lower during the regular session. Sector peer Coherent Corp. also showed strength ahead of Keysight’s report.
