Keysight’s Q3 sales grew 8.3%, led by 5G demand
Keysight Technologies reported its 2019 Q3 financial results on Aug. 21, showing strong sales and profit growth year-over-year as demand for 5G solutions continue to boost the company
Keysight Technologies reported its 2019 third quarter financial results on Aug. 21, showing strong sales and profit growth year-over-year as demand for 5G solutions continue to boost the company.
The Santa Rosa, CA-based electronic test and measurement technology provider posted total Q3 sales of $1.09 billion, up 8.3% year-over-year, while total profit of $159 million increased 31.4% and operating income of $197 million soared 68.4%.
“Keysight delivered another excellent quarter with both revenue and earnings exceeding the high-end of our guidance,” said Ron Nersesian, Keysight president and CEO. “Record third quarter revenue was driven by growth across the majority of our end markets as we continued to capture a significant portion of the demand we see in the marketplace.”
By business segment:
The sales growth was led by Keysight’s Communications Solutions Group, which had Q3 sales of $683 million—up 13% year-over-year. The company said segment growth was driven by strong demand for 5G solutions across the wireless ecosystem.
Keysight’s Electronic Industrial Solutions Group posted Q3 sales of $295 million, up 3%, which the company said was driven by strength in automotive and general electronics across a broad set of industries, expectedly offset by softness in the semiconductor market.
The company’s Ixia Solutions Group had Q3 sales of $110 million, down 7% year-over-year. Keysight said those results reflected softness in the network test market, offset by high-single-digit year-over-year growth in network visibility.
Keysight provided a Q4 outlook that included expected sales of $1.08 billion to $1.1 billion.