Q2 2025 Keysight Technologies Inc Earnings Call Transcript
Key Points
- Keysight Technologies Inc (KEYS) delivered revenue of $1.3 billion and earnings per share of $1.70, both exceeding the high end of guidance.
- Orders grew 8% year over year and 4% sequentially, indicating strong demand.
- The company has a diversified global supply chain with minimal exposure to China, enhancing resilience.
- Commercial Communications orders grew double digits, driven by data center infrastructure expansion and new technology deployments.
- Aerospace, Defense & Government orders grew, with significant deals in Europe and ongoing investment in spectrum operations and space applications.
- The Electronic Industrial Solutions Group experienced mixed demand, with automotive orders and revenues down.
- The company faces a gross annualized tariff exposure of $75 to $100 million, impacting margins.
- Despite strong performance, the macroeconomic environment remains uncertain, with potential risks from tariffs and geopolitical tensions.
- The smartphone-related business remains soft, particularly in China.
- The company anticipates a significant tariff impact in Q3, with full mitigation expected by the end of the fiscal year.
Good day, ladies and gentlemen, and welcome to Keysight Technologies fiscal second-quarter 2025 earnings conference call. My name is [Tamia], and I will be your lead operator today. (Operator Instructions) This call is being recorded today, Tuesday, May 20, 2025, at 1:30 PM Pacific Time.
I would like to hand the call over to Paulenier Sims, Director of Investor Relations. Please go ahead, Ms. Sims.
Thank you and welcome, everyone, to Keysight's second-quarter earnings conference call for fiscal year 2025. Joining me are Keysight's President and CEO, Satish Dhanasekaran; and our CFO, Neil Dougherty.
The press release and information to supplement today's discussion are on our website at investor.keysight.com under financial information and quarterly reports. Today's comments will refer to non-GAAP financial measures. We will also make reference to core growth, which excludes the impact of currency movements and acquisitions or divestitures completed over the last 12
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