Thu, Aug 29, 8:23 PM (138 days ago)
For the quarter ending July 31, 2024, Keysight Technologies reported a revenue decline to $1,217 million, down 12% from $1,382 million in the prior year. This decline was attributed to lower demand across regions, particularly in the Americas and Europe, despite a positive contribution from recent acquisitions. The company's net income increased to $389 million, benefiting from significant tax adjustments, contrasting with a net income of $288 million the previous year. Operating income fell by 44% to $205 million, impacted by higher acquisition costs and reduced revenue. The gross margin decreased to 62% from 65% due to unfavorable product mix and increased amortization costs. Cash flows from operating activities were $693 million, down from $1,030 million, reflecting lower net income and changes in working capital. Keysight's total assets increased to $9,323 million, driven by acquisitions, while total liabilities remained stable at $4,093 million. Looking ahead, Keysight faces uncertainties from macroeconomic conditions, including inflation and geopolitical tensions, which may affect future performance and demand in key markets. The company remains committed to strategic investments in R&D and acquisitions to sustain long-term growth.