Keysight stock rallies on earnings, outlook beat

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Keysight Technologies Inc. shares rallied in the extended session Thursday after the maker of electronics test and measurement equipment reported results and an outlook that topped Wall Street estimates. Keysight shares surged 6.5% after hours, following a 1.1% decline in the regular session to close at $102.82. The company reported fiscal third-quarter net income of $176 million, or 93 cents a share, compared with $159 million, or 83 cents a share, in the year-ago period. Adjusted earnings were $1.19 a share, compared with $1.25 a share in the year-ago period. Revenue declined to $1.01 billion from $1.09 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 83 cents a share on revenue of $915.4 million. “Keysight delivered stronger-than-expected third-quarter results as we ramped production capacity back to nearly 100% by quarter-end,” said Ron Nersesian, Keysight chairman and chief executive, in a statement. Keysight expects adjusted earnings of $1.42 to $1.48 a share on revenue of $1.17 billion to $1.19 billion, while analysts had forecast earnings of $1.24 a share on revenue of $1.11 billion.
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