Keysight Technologies Reports Second Quarter 2025 Results

SANTA ROSA, Calif.--(BUSINESS WIRE)-- Keysight Technologies, Inc. (NYSE: KEYS) today 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.

Forward-Looking Statements

This communication contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The words "assume," “expect,” “intend,” “will,” “should,” "outlook," and similar expressions, as they relate to the company, are intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could significantly affect the expected results and are based on certain key assumptions of Keysight’s management and on currently available information. Due to such uncertainties and risks, no assurances can be given that such expectations or assumptions will prove to have been correct, and readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Keysight undertakes no responsibility to publicly update or revise any forward-looking statement. The forward-looking statements contained herein include, but are not limited to, predictions, future guidance, projections, beliefs, and expectations about the company’s goals, revenues, financial condition, earnings, and operations that involve risks and uncertainties that could cause Keysight’s results to differ materially from management’s current expectations. Such risks and uncertainties include, but are not limited to, impacts of global economic conditions such as inflation or recession, slowing demand for products or services, volatility in financial markets, reduced access to credit, increased interest rates; impacts of geopolitical tension and conflict outside of the U.S., export control regulations and compliance; net-zero emissions commitments; customer purchasing decisions and timing; and order cancellations.

About Keysight Technologies

At Keysight (NYSE: KEYS), we inspire and empower innovators to bring world-changing technologies to life. As an S&P 500 company, we’re delivering market-leading design, emulation, and test solutions to help engineers develop and deploy faster, with less risk, throughout the entire product lifecycle. We’re a global innovation partner enabling customers in communications, industrial automation, aerospace and defense, automotive, semiconductor, and general electronics markets to accelerate innovation to connect and secure the world. Learn more at Keysight Newsroom and www.keysight.com.

Source: IR-KEYS