Keysight Technologies reported its first quarter earnings that rose substantially from the year-ago quarter.
The electronics equipment company’s GAAP net income for the quarter came in at $1.24 per share, compared with $0.92 per share a year ago. Non-GAAP net income was $1.65 per share, also higher than $1.43 per share in the first quarter of 2021.
Revenue rose +6% from the year-ago quarter to $1.25 billion.
Orders surged +22% year-over-year to $1.50 billion.
The company’s revenue from the Communications Solutions Group (CSG) grew +3% year-over-year to $878 million in the first quarter, driven by continued investments in 5G, O-RAN adoption, 400G, 800G and terabit R&D, and wireline applications. Electronic Industrial Solutions Group (EISG) generated revenue of $372 million in the first quarter, up +13% from the year-ago quarter, on the back of strength in semiconductor measurement solutions and next-generation automotive and energy technologies, reporting growth across all regions.
Looking ahead, Keysight expects its second fiscal quarter revenue to be in the range of $1.29 billion to $1.31 billion. It projects non-GAAP earnings per share for the quarter to be in the range of $1.63 to $1.69.