Why Keysight Stock Is Trading Lower After-Hours

Keysight Technologies Inc. KEYS shares are trading lower in Thursday's after-hours session after the company reported third-quarter earnings and issued a fourth-quarter outlook below estimates. Here's a summary of the details.

What To Know: Keysight reported quarterly earnings of $2.19 per share, which beat the analyst consensus estimate of $2.04, an 8.96% increase over earnings of $2.01 per share from the same period last year. 

The company reported quarterly sales of $1.38 billion, which are in-line with the analyst consensus estimate of $1.38 billion, a 0.44% increase over sales of $1.38 billion in the same period last year.

The company issued a fourth-quarter earnings outlook of $1.83 and $1.89, versus the $1.99 estimate. Revenue is estimated between $1.29 billion and $1.31 billion, versus the $1.39 billion estimate.

"Keysight delivered solid third-quarter results, demonstrating the strength of our portfolio and the resilience of our financial model," said Satish Dhanasekaran, Keysight's President and CEO.

"Despite near-term macro challenges, Keysight's diversified business, strong customer engagement through our differentiated solutions portfolio, and durable operating model give us confidence in our ability to capitalize on the long-term secular growth trends of our markets, as well as outperform in a variety of market conditions."

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KEYS Price Action: Shares of KEYS were down 6.96% at $139.50 in the after-hours session at the time of publication, according to Benzinga Pro.

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