Keysight Technologies, Inc. reported financial results for the first fiscal quarter ended January 31, 2025.
“Keysight delivered strong first quarter results, reflecting year-over-year growth in revenues and orders. The demand environment remains consistent with our view of a gradual recovery in 2025,” said Satish Dhanasekaran, Keysight’s President and CEO. “The world’s most technologically advanced companies trust Keysight to deliver critical enabling technologies across a broad spectrum of next generation use cases and we are well-positioned to create long-term value for our stakeholders. ”
First Quarter Financial Summary
- Revenue was $1.30 billion, compared with $1.26 billion in the first quarter of 2024.
- GAAP net income was $169 million, or $0.97 per share, compared with $172 million, or $0.98 per share, in the first quarter of 2024.
- Non-GAAP net income was $317 million, or $1.82 per share, compared with $286 million, or $1.63 per share in the first quarter of 2024.
- Cash flow from operations was $378 million, compared to $328 million last year. Free cash flow was $346 million, compared to $281 million in the first quarter of 2024.
- As of January 31, 2025, cash and cash equivalents totaled $2.06 billion.
Reporting Segments
- Communications Solutions Group (CSG)
CSG reported revenue of $883 million in the first quarter, up 5 percent from the prior year, reflecting a 5 percent growth in commercial communications and 5 percent growth in aerospace, defense, and government.
- Electronic Industrial Solutions Group (EISG)
EISG reported revenue of $415 million in the first quarter, down 1 percent from the prior year, reflecting mixed demand across end markets.
Outlook
Keysight’s second fiscal quarter of 2025 revenue is expected to be in the range of $1.27 billion to $1.29 billion. Non-GAAP earnings per share for the second fiscal quarter of 2025 are expected to be in the range of $1.61 to $1.67, based on a weighted diluted share count of approximately 174 million shares and a non-GAAP tax rate of 14%. Certain items impacting the GAAP tax rate pertain to future events and are not currently estimable with a reasonable degree of accuracy; therefore, no reconciliation of GAAP earnings per share to non-GAAP has been provided. Further information is discussed in the section titled “Use of Non-GAAP Financial Measures” below.
Webcast
Keysight’s management will present more details about its first quarter FY2025 financial results and its second quarter FY2025 outlook on a conference call with investors today at 1:30 p.m. PT. This event will be webcast in listen-only mode. Listeners may log on to the call at www.investor.keysight.com under the “ Upcoming Events ” section and select “ Q1 FY25 Keysight Technologies Inc. Earnings Conference Call ” to participate. The call can also be accessed by dialing 1-404-975-4839 or 1-833-470-1428 toll-free (access code 992044). The webcast will remain on the company site for 90 days.
