Why Keysight Technologies Stock Is Plummeting Today

Keysight Technologies (NYSE: KEYS) stock is sinking in Friday's trading. The company's share price was up 10.9% as of 10:15 a.m. ET, according to data from S&P Global Market Intelligence.

After the market closed yesterday, Keysight published results for its fiscal third quarter, which ended July 31. The company posted sales in line with the market's expectations and earnings that beat Wall Street's target. But while the equipment testing and measurements specialist's Q3 results came in better than anticipated, its forward guidance underwhelmed investors.

Keysight's revenue was in line with analyst expectations and flat year over year in the third quarter, coming in at $1.38 billion. On the other hand, the company's non-GAAP (adjusted) earnings per share of $2.19 in the period came in significantly better than the average analyst estimate's call for per-share earnings of $2.04. While adjusted earnings inched up from $2.01 per share in the prior-year period, generally accepted accounting principles (GAAP) earnings of $1.61 per share were down from earnings of $1.87 per share in last year's quarter.

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Source Fool.com