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Sentiment · FY2026 Q3
As of FY2026 Q2, the Tellvest earnings-call sentiment score for Keysight Technologies (KEYS) is 10/10.
Keysight posted its best quarter in company history with revenue of $1.72B (up 31% reported, 24% core) and record orders of $2.05B (up 56%), driven by broad strength across AI data center infrastructure, defense modernization, and semiconductor capacity investment. The AI-related business reached $500-600M in the first half alone, matching all of FY2025, as concurrent demand vectors in infrastructure scaling, speed transitions, optical technologies, and system-level emulation accelerated. Operating leverage was strong at nearly 50% incrementals on a core basis, with ex-tariff operating margins expanding to 30.4%. Management raised FY2026 revenue growth expectations from just above 20% to the high-20s percent range, reflecting confidence in the second-half pipeline from defense systems orders, semiconductor programs, and continued AI infrastructure build-out.
Scored from Keysight Technologies’s FY2026 Q2 earnings call. The newest quarter is available with Tellvest Pro.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.29B | -1.8% | $-0.42 | -132.8% | 17.9% | -5.7% | $321M |
| FY2025 Q1 | $1.30B | +3.1% | $0.97 | -1.0% | 16.8% | 13.0% | $346M |
| FY2025 Q2 | $1.31B | +7.4% | $1.49 | +106.9% | 15.8% | 19.7% | $457M |
| FY2025 Q3 | $1.35B | +11.1% | $1.10 | -50.5% | 17.3% | 14.1% | $381M |
| FY2025 Q4 | $1.42B | +10.3% | $1.32 | +414.3% | 15.3% | 16.1% | $187M |
| FY2026 Q1 | $1.60B | +23.3% | $1.63 | +68.0% | 15.5% | 17.6% | $407M |
| FY2026 Q2 | $1.72B | +31.5% | $2.02 | +35.6% | 23.7% | 20.3% | $472M |
| FY2026 Q3 | $1.85B | +36.5% | $2.30 | +109.1% | 25.0% | 21.5% | $500M |