Strong Revenue and EPS Performance
Keysight reported first-quarter revenue of $1.3 billion and earnings per share of $1.82, both exceeding the high-end of their guidance.
Growth in Communication Solutions Group
The Communication Solutions Group revenue grew 5%, driven by momentum in wireline, stability in wireless, and growth in aerospace, defense, and government.
Positive Order Growth
Orders grew year-over-year for a second consecutive quarter, up 4% to $1.3 billion.
Record Aerospace, Defense, and Government Revenue
Revenue in the aerospace, defense, and government sector grew to a first-quarter record with strength in both the US and Asia.
Software and Services Growth
Software and services accounted for approximately 40% of Keysight's revenue, while recurring revenue was approximately 31% of total revenue.
Cash Flow and Share Repurchase
Keysight generated $378 million in cash flow from operations and repurchased 450,000 shares at an average price of $167.