On Monday, November 20, Keysight Technologies (KEYS.N) released a better-than-expected fourth-quarter profit report. The company provides electronic design and test products used in the aerospace and defense industries. Their product line includes oscilloscopes, network emulators, and software, among others.

Despite the ongoing challenges in various sectors due to supply chain constraints and elevated raw material costs, Keysight saw a 4% increase in revenue from segments such as aerospace, defense, and government. This was facilitated by investments in defense technology modernization, electromagnetic spectrum operations, radar, space, and satellite. On an adjusted basis, the company earned $1.99 per share in the quarter through October compared with an average analysts’ estimate of $1.87 per share.

The company forecasted its first-quarter profit for 2024 to be slightly lower than LSEG estimates’ expectations. Despite this information, shares of the company were up 2.4% at $138.20 after the earnings report was released. This report was covered by Priyamvada C and Nathan Gomes in Bengaluru and edited by Shilpi Majumdar.