Keysight Technologies Inc.
shares fell more than 7% in extended trading Tuesday after beating Wall Street estimates on first-quarter profit and revenue but falling short of expectations on its revenue outlook. The electronic design and test solutions company reported first-quarter net income of $260 million, or $1.45 a share, compared with $229 million, or $1.24 a share, in the year-ago period. Adjusted for stock-based compensation, acquisition-related and other costs, earnings were $2.02 a share. Revenue rose to $1.38 billion from $1.25 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.85 a share on revenue of $1.37 billion. Keysight expects second-quarter adjusted earnings of between $1.91 a share and $1.97 a share on revenue of $1.37 billion to $1.39 billion, while analysts had forecast earnings of $1.94 a share on revenue of $1.4 billion.