Keysight Technologies, Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Keysight Technologies, Inc. (KEYS) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $172 million, or $0.98 per share. This compares with $260 million, or $1.45 per share, in last year's first quarter.

Excluding items, Keysight Technologies, Inc. reported adjusted earnings of $286 million or $1.63 per share for the period.

Analysts on average had expected the company to earn $1.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.7% to $1.26 billion from $1.38 billion last year.

Keysight Technologies, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $172 Mln. vs. $260 Mln. last year. -EPS (Q1): $0.98 vs. $1.45 last year. -Analyst Estimates: $1.59 -Revenue (Q1): $1.26 Bln vs. $1.38 Bln last year.

-Guidance: Next quarter EPS guidance: $1.34 - $1.40 Next quarter revenue guidance: $1.19 - $1.21 Bln