Keysight Stock Rallies After Q1 Earnings Beat Estimates

Keysight Technologies, Inc. (NYSE:FANG) shares rallied in Monday's extended trading after the company released its first-quarter earnings report, beating estimates and issuing strong forward guidance. 

Here's a look at the details from the report   

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The Details: Keysight Technologies reported quarterly earnings of $2.17 per share, which beat the Street estimate of $2.

Quarterly revenue came in at $1.6 billion, which beat the analyst consensus estimate of $1.54 billion, according to data from Benzinga Pro.

Keysight reported the following first-quarter segment results:

Communications Solutions Group (CSG): CSG reported revenue of $1.12 billion in the first quarter, up 27% from the prior year.

Electronic Industrial Solutions Group (EISG): EISG reported revenue of $476 million in the first quarter, up 15% from the prior year.

“Keysight had a strong start to the fiscal year with outstanding results that exceeded our expectations,” said Satish Dhanasekaran, Keysight’s CEO. “The investments we have made over the last three years are enabling us to capitalize on continued momentum in our markets and deliver value.”

Outlook: Keysight expects second-quarter adjusted EPS of $2.27 to $2.33, versus the $1.91 analyst estimate and revenue in a range of $1.69 billion to $1.71 billion, versus the $1.51 billion estimate.

KEYS Stock Price: According to data from Benzinga Pro, Keysight stock climbed 15.10% to $282 in Monday's extended trading.  

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