Keysight Technologies Q1 2024 Earnings Report
Key Takeaways
Keysight Technologies reported Q1 2024 revenue of $1.26 billion, a decrease from $1.38 billion in Q1 2023. GAAP net income was $172 million, or $0.98 per share, compared to $260 million, or $1.45 per share, in the same quarter last year. Non-GAAP net income was $286 million, or $1.63 per share, versus $363 million, or $2.02 per share, in Q1 2023. The company's performance was driven by strong execution in aerospace, defense, government solutions, and AI-driven applications, with the ESI acquisition completed ahead of schedule.
Keysight's Q1 revenue was $1.26 billion, a decrease from $1.38 billion year-over-year.
GAAP net income was $172 million, or $0.98 per share, down from $260 million, or $1.45 per share, year-over-year.
Non-GAAP net income reached $286 million, or $1.63 per share, compared to $363 million, or $2.02 per share, in the prior year.
Cash flow from operations was $328 million, with free cash flow at $281 million.
Keysight Technologies
Keysight Technologies
Keysight Technologies Revenue by Segment
Forward Guidance
Keysight anticipates second fiscal quarter of 2024 revenue to be between $1.19 billion and $1.21 billion, with non-GAAP earnings per share expected to range from $1.34 to $1.40, based on approximately 175 million weighted diluted shares.
Revenue & Expenses
Visualization of income flow from segment revenue to net income