Keysight Technologies, Inc. reported financial results for the second fiscal quarter ended April 30, 2025.
“Keysight delivered strong second quarter results with revenue and earnings per share above the high end of guidance. This quarter’s performance underscores the strength of our long-term strategy, deep customer engagement and disciplined execution,” said Satish Dhanasekaran, Keysight’s President and CEO. “Even as we are monitoring the overall macroeconomic environment, we continue to see a healthy funnel of opportunities and are raising full-year growth expectations to the midpoint of our long-term 5-7% target.”
Second Quarter Financial Summary
- Revenue was $1.31 billion, compared with $1.22 billion in the second quarter of 2024.
- GAAP net income was $257 million, or $1.49 per share, compared with $126 million, or $0.72 per share, in the second quarter of 2024.
- Non-GAAP net income was $295 million, or $1.70 per share, compared with $247 million, or $1.41 per share in the second quarter of 2024.
- Cash flow from operations was $484 million, compared to $110 million last year. Free cash flow was $457 million, compared to $74 million in the second quarter of 2024.
- As of April 30, 2025, cash and cash equivalents totaled $3.12 billion.
Reporting Segments
- Communications Solutions Group (CSG)
CSG reported revenue of $913 million in the second quarter, up 9 percent from the prior year, reflecting 9 percent growth in commercial communications and 9 percent growth in aerospace, defense, and government.
- Electronic Industrial Solutions Group (EISG)
EISG reported revenue of $393 million in the second quarter, up 5 percent from the prior year, reflecting growth in semiconductor and general electronics, which was partially offset by a decline in automotive and energy.
Outlook
Keysight’s third fiscal quarter of 2025 revenue is expected to be in the range of $1.305 billion to $1.325 billion. Non-GAAP earnings per share for the third fiscal quarter of 2025 are expected to be in the range of $1.63 to $1.69, based on a weighted diluted share count of approximately 173 million shares. 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 second quarter FY2025 financial results and its third 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 “Q2 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 420906). The webcast will remain on the company site for 90 days.
