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Keysight Technologies, Inc. reported financial results for the fourth fiscal quarter and fiscal year ended October 31, 2025.
“Keysight delivered an outstanding quarter and strong close to the fiscal year, returning the company to full-year growth with order momentum accelerating through the year,” said Satish Dhanasekaran, Keysight’s President and CEO. “These results reflect our leadership across the markets we serve and sustained demand for Keysight's highly differentiated solutions.”
Fourth Quarter Financial Summary
- Revenue was $1.42 billion, compared with $1.29 billion last year.
- GAAP net income was $229 million, or $1.33 per share, compared with a GAAP net loss of $73 million, or $0.42 per share, in the fourth quarter of 2024.
- Non-GAAP net income was $331 million, or $1.91 per share, compared with $288 million, or $1.65 per share, in the fourth quarter of 2024.
- Cash flow from operations was $225 million, compared with $359 million last year. Free cash flow was $188 million, compared with $328 million in the fourth quarter of 2024.
- As of October 31, 2025, cash and cash equivalents totaled $1.87 billion.
Fiscal Year 2025 Financial Summary
- Revenue was $5.37 billion, compared with $4.98 billion last year.
- GAAP net income was $846 million, or $4.89 per share, compared with $614 million, or $3.51 per share, in fiscal 2024.
- Non-GAAP net income was $1.24 billion, or $7.16 per share, compared with $1.10 billion, or $6.27 per share, in fiscal year 2024.
- Cash flow from operations was $1.41 billion, compared with $1.05 billion last year. Free cash flow was $1.28 billion, compared with $0.91 billion in fiscal year 2024.
Reporting Segments
Communications Solutions Group (CSG)
CSG reported revenue of $990 million in the fourth quarter, up 11 percent over last year, driven by ongoing investment in AI data center infrastructure, non-terrestrial network applications, and defense modernization.
Electronic Industrial Solutions Group (EISG)
EISG reported revenue of $429 million in the fourth quarter, up 9 percent over last year, reflecting growth in broad general electronics and leading-edge semiconductor solutions.
Share Repurchase Program
Keysight also announced today that its Board of Directors authorized a new share repurchase program for up to $1.5 billion of its common stock. The new repurchase program is effective immediately and replaces the previous program. Shares may be purchased from time to time, subject to general business and market conditions and other investment opportunities, through open market purchases, privately negotiated transactions or other means. The repurchase authorization may be commenced, suspended or discontinued at any time at the company's discretion.
Outlook
Keysight’s first fiscal quarter of 2026 revenue is expected to be in the range of $1.53 billion to $1.55 billion. Non-GAAP earnings per share for the first fiscal quarter of 2026 are expected to be in the range of $1.95 to $2.01.
