News
James B. Bell
- August 18, 2023
Shares of Keysight Technologies experienced a decline after the company released a less-than-optimistic outlook for the current quarter. The stock dropped 7.4% in after-hours trading, compounding a 16% decrease over the past 12 months.
During a recent conference call with analysts, Chief Executive Satish Dhanasekaran pointed out that Keysight Technologies is facing challenges in its Electronic Industrial Solutions Group and the Asian region. The semiconductor and manufacturing sectors in these areas are particularly affected.
Dhanasekaran explained that demand for wafer-test solutions has slowed down in the quarter. However, there is still high demand for silicon photonics tests and proprietary interferometer systems due to a customer focus on artificial intelligence. He anticipates that these trends will persist in the upcoming quarters.
Despite reporting flat sales for the fiscal third quarter ending July 31, Keysight Technologies managed to exceed analysts' expectations for adjusted earnings. However, overall profit declined.
Looking ahead to the fiscal fourth quarter, Keysight Technologies is aiming for adjusted earnings between $1.83 and $1.89 per share, with expected revenue ranging from $1.29 billion to $1.31 billion.
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