Keysight Reports Strong Q3 Results and Raises Full-Year Outlook
Keysight Technologies delivered strong third-quarter performance, surpassing the high end of its guidance for both revenue and earnings per share (EPS).
“We executed well on our strategy and continue to capitalize on opportunities across our end markets,” said Satish Dhanasekaran, Keysight’s President and CEO. “We’re raising our full-year outlook once again, supported by strong demand and robust customer engagement
Third Quarter Fiscal 2025 Highlights
- Revenue: $1.35 billion, up from $1.22 billion in Q3 2024
- GAAP Net Income: $191 million ($1.10 per share), down from $389 million ($2.22 per share) in Q3 2024
- Non-GAAP Net Income: $297 million ($1.72 per share), up from $275 million ($1.57 per share)
- Operating Cash Flow: $322 million, compared to $255 million a year ago
- Free Cash Flow: $291 million, up from $222 million
- Cash & Equivalents: $3.40 billion as of July 31, 2025
Segment Performance
Communications Solutions Group (CSG):
- Revenue: $940 million, up 11% year-over-year
- Growth driven by 13% increase in commercial communications and 8% in aerospace, defense, and government
Electronic Industrial Solutions Group (EISG):
- Revenue: $412 million, up 11% year-over-year
- Growth across semiconductors, general electronics, automotive, and energy markets
Updated Outlook
Q4 FY2025 Guidance:
- Revenue: $1.370–$1.390 billion
- Non-GAAP EPS: $1.79–$1.85 (based on ~173 million diluted shares)
FY2025 Full-Year Outlook:
- Revenue growth: ~7%
- At the midpoint of Q4 guidance, non-GAAP EPS growth: ~13%
Due to uncertainties in tax-related items, GAAP-to-non-GAAP EPS reconciliation is not currently available
Investor Webcas
Keysight’s leadership will host a webcast to discuss Q3 results and Q4 outlook today at 1:30 p.m. PT.
Join via: www.investor.keysight.com under “Upcoming Events”
Dial-in: 1-404-975-4839 or 1-833-470-1428 (Access Code: 819411)
Replay available for 90 days on the site.
Forward-Looking Statements
This release contains forward-looking statements under the Securities Exchange Act of 1934, which involve risks and uncertainties. Actual results may differ materially due to various factors, including economic volatility, geopolitical tensions, regulatory changes, and customer behavior. For a detailed discussion of these risks, refer to Keysight’s filings with the SEC, including its latest Form 10-K and Form 10-Q.
Use of Non-GAAP Financial Measures
This report includes non-GAAP metrics such as:
- Non-GAAP net income and EPS
- Free cash flow
These measures exclude certain items to provide better insight into the company’s core operating performance. Full reconciliations and explanations are available in the supplemental schedules attached to the original earnings release
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.
