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Keysight Technologies (KEYS) Tops Q1 EPS by 12c, Beats on Revenues; Offers 1H18 EPS/Revenues Guidance

March 1, 2018 4:19 PM

Note: EPS may not be comparable

Keysight Technologies (NYSE: KEYS) reported Q1 EPS of $0.51, $0.12 better than the analyst estimate of $0.39. Revenue for the quarter came in at $856 million versus the consensus estimate of $801.84 million.

First Quarter Financial Summary

Reporting Segments

Outlook

Keysight provides guidance based on current market conditions and expectations and is raising its guidance for the first half of 2018.

Keysight’s first half of 2018 GAAP revenue is expected to be in the range of $1,777 million to $1,807 million and non-GAAP revenue for the first half of 2018 is expected to be in the range of $1,805 million to $1,835 million. The midpoint of this first half 2018 guidance implies second quarter 2018 GAAP revenue of $955 million and non-GAAP revenue of $964 million.

Non-GAAP earnings per share for the first half of 2018 are expected to be in the range of $1.27 to $1.37 and, at the midpoint, imply second-quarter non-GAAP earnings per share of approximately $0.81. Given the new U.S. tax law under the Tax Cuts and Jobs Act, Keysight estimates that its annual non-GAAP tax rate will decrease by 200 basis points to 15 percent. Non-GAAP earnings per share as projected for the first half and second quarter of fiscal year 2018 and the estimated annual non-GAAP tax rate exclude items that pertain to future events and are not currently estimable with a reasonable degree of accuracy. Therefore, no reconciliation to GAAP amounts has been provided. Further information is discussed in the section titled “Non-GAAP Measures” below.

For earnings history and earnings-related data on Keysight Technologies (KEYS) click here.

Categories

Earnings Guidance

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