Jul 2026 (Q3 FY26) — Aug 18, 2026
Keysight Technologies Q3 FY26 — Record Results Driven by AI Infrastructure and 6G Momentum
Read the full callKeysight Technologies (KEYS) earnings
- Jul 2026
- Jul 2026 (Q3 FY26)
- Oct 2025
Keysight Technologies earnings: last reported Tue, 18 Aug 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,846 | +36.5% YoY | Quarterly, as filed | Quarter to Jul 2026 | Revenue from operations as filed. |
| Operating margin | 25.0 | +7.7 pts YoY | Operating profit / revenue | Quarter to Jul 2026 | For the quarter; a change is in percentage points. |
| Net profit | 397 | +107.9% YoY | Quarterly, as filed | Quarter to Jul 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
21 of 22 judged targets kept · 17 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly non-GAAP earnings per share | $2.27 to $2.33 | Jan 2026 | We delivered net income of $497 million and earnings per share of $2.87 | Achieved |
| Full-year capital expenditures | approximately $160 million | Oct 2025 | we are increasing investments to meet these higher growth levels and now expect FY '26 capital expenditures to be in the range of $200 million | Revised Down |
| FY26 revenue contribution from the Spirent, Optical Solutions Group and PowerArtist acquisitions | approximately $375 million | Oct 2025 | we continue to expect $375 million in FY '26 revenue from the acquisitions | On Track |
1 of Keysight Technologies, Inc.'s 39 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 36 more targets are in the full ledger.
Claimed
- Orders grew 56% to $2.091 billion, marking the third consecutive quarter above $2 billion.
- Revenue grew 36% to $1.846 billion, exceeding guidance.
- Earnings per share grew 79% to $3.07, exceeding guidance.
- Operating margin expanded 820 basis points year-over-year to 33.2%, exceeding the long-term target.
- Commercial Communications business achieved its first $1 billion quarter, with wireline revenue exceeding wireless revenue for the first time.
Qualified
- Supply chain limitations are likely to be a governor of revenue conversion for the next several quarters.
- The supply environment is less flexible than a year ago, requiring product redesigns and longer-term agreements to deconstrain.
Price
$335.86 +1.40% · +$4.65
Performance +107.1% 1Y
1Y: $162.19 on 17 Oct 2025 → $335.86. High $388.03 (6 Oct 2026), low $162.19 (17 Oct 2025).
- Previous close
- $331.21
- 52-week range
- $164.69 – $388.03
- One year
- +103.86%
Overview
- Symbol
- KEYS
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
21 of 22 judged targets kept · 17 open · verdicts reflect calls analysed to Apr 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly non-GAAP earnings per share | $2.27 to $2.33 | Jan 2026 | We delivered net income of $497 million and earnings per share of $2.87 | Achieved |
| Full-year capital expenditures | approximately $160 million | Oct 2025 | we are increasing investments to meet these higher growth levels and now expect FY '26 capital expenditures to be in the range of $200 million | Revised Down |
| FY26 revenue contribution from the Spirent, Optical Solutions Group and PowerArtist acquisitions | approximately $375 million | Oct 2025 | we continue to expect $375 million in FY '26 revenue from the acquisitions | On Track |
Claimed
- Orders grew 56% to $2.091 billion, marking the third consecutive quarter above $2 billion.
- Revenue grew 36% to $1.846 billion, exceeding guidance.
- Earnings per share grew 79% to $3.07, exceeding guidance.
- Operating margin expanded 820 basis points year-over-year to 33.2%, exceeding the long-term target.
- Commercial Communications business achieved its first $1 billion quarter, with wireline revenue exceeding wireless revenue for the first time.
Qualified
- Supply chain limitations are likely to be a governor of revenue conversion for the next several quarters.
- The supply environment is less flexible than a year ago, requiring product redesigns and longer-term agreements to deconstrain.
The full ledger
Open Keysight Technologies, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 39 tracked commitments, with each call’s wording and source.
Call summaries
Apr 2026 (Q2 FY26) — May 19, 2026
Keysight Q2 FY26 — Record Orders and Strong AI-Driven Growth
Read the full callJan 2026 (Q1 FY26) — Feb 23, 2026
Keysight Technologies Q1 FY26 — Robust Growth Across All Segments Driven by AI and Defense Modernization
Read the full callEvery analysed call
Keysight Technologies earnings calls (KEYS)
Financials
What the filings say
Net profit, year on year: +108% (quarter to jul 2026 against jul 2025).
| Line item | Oct 2024 | Jan 2025 | Apr 2025 | Jul 2025 | Oct 2025 | Jan 2026 | Apr 2026 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,287 | 1,298 | 1,306 | 1,352 | 1,419 | 1,600 | 1,717 | 1,846 |
| Expenses | 1,057 | 1,080 | 1,099 | 1,118 | 1,202 | 1,352 | 1,310 | 1,385 |
| Operating profit | 230 | 218 | 207 | 234 | 217 | 248 | 407 | 461 |
| Operating margin | 17.9% | 16.8% | 15.8% | 17.3% | 15.3% | 15.5% | 23.7% | 25.0% |
| Interest | 23 | 20 | 20 | 28 | 28 | 29 | 25 | 26 |
| Profit before tax | 248 | 199 | 320 | 241 | 322 | 198 | 418 | 477 |
| Tax rate | 129.4% | 15.1% | 19.7% | 20.8% | 21.7% | −41.9% | 16.5% | 16.8% |
| Net profit | -73 | 169 | 257 | 191 | 233 | 281 | 349 | 397 |
| EPS ($ per share) | — | 0.97 | 1.49 | 1.11 | — | 1.64 | 2.04 | 2.33 |
| Line item | Oct 2018 | Oct 2019 | Oct 2020 | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Oct 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves | 1,212 | 1,909 | 2,536 | 3,430 | 4,554 | 5,611 | 6,225 | 7,075 |
| Total liabilities | 3,391 | 3,619 | 3,921 | 3,997 | 3,937 | 4,029 | 4,164 | 5,420 |
| Fixed assets | 555 | 576 | 595 | 650 | 690 | 761 | 774 | 795 |
| Total assets | 5,824 | 6,623 | 7,218 | 7,781 | 8,098 | 8,683 | 9,269 | 11,301 |
| Line item | Oct 2018 | Oct 2019 | Oct 2020 | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Oct 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 555 | 998 | 1,016 | 1,322 | 1,144 | 1,408 | 1,052 | 1,409 |
| Cash from investing | -108 | -196 | -442 | -353 | -251 | -288 | -819 | -1,727 |
| Cash from financing | -341 | -122 | -413 | -671 | -861 | -687 | -913 | 385 |
| Net cash flow | 97 | 683 | 167 | 301 | -11 | 431 | -674 | 76 |
| Capital expenditure | -132 | -120 | -117 | -174 | -185 | -197 | -154 | -128 |
| Free cash flow | 423 | 878 | 899 | 1,148 | 959 | 1,211 | 898 | 1,281 |
KEYS revenue by segment
Communications Solutions Group grew from 70% to 73% of revenue over the last two years.
| Segment | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Communications Solutions Group | 70% | 68% | 70% | 70% | 70% | 70% | 72% | 73% | +43.1% |
| Electronic Industrial Solutions Group | 30% | 32% | 30% | 30% | 30% | 30% | 28% | 27% | +21.6% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
KEYS operating KPIs by quarter
| KPI | Apr 2025 Q2 FY25 | Jul 2025 Q3 FY25 | Oct 2025 Q4 FY25 | Jan 2026 Q1 FY26 | Apr 2026 Q2 FY26 | Jul 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Orders | $1.316BOrders of $1.316 billion were up 8% on both the reported and core basis.Source: earnings call transcript | $1.34BOrders of $1.340 billion were up 7% on a reported basis or 6% on a core basis.Source: earnings call transcript | $1.533BOrders of $1.533 billion were up 14% on a reported basis or 12% on a core basis.Source: earnings call transcript | $1.645BOrders of $1.645 billion were up 30% on a reported basis and up 22% on a core basis.Source: earnings call transcript | $2.051BQ2 orders of $2.051 billion were up 56% on a reported basis, with acquisitions adding 700 basis points and currency adding 100 basis points.Source: earnings call transcript | $2.091BOrders of $2.091 billion were up 56% on a reported basis.Source: earnings call transcript | +2% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q3 FY2026 · share of revenue
- Asia Pacific 44% ↑ 3 pt
- Americas 39%
- Europe 17% ↓ 2 pt
As KEYS cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
128 filings between Nov 14, 2025 and Sep 30, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$33.60M
27 sales by 13 insiders
37% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 32
- Award — granted as compensation
- 62
- Tax withheld — shares kept back by the company to cover tax
Also filed: 7 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Nersesian Ronald S. | — | $14.49M | Mar 17, 2026 |
| Dhanasekaran Satish | — | $5.61M | Sep 30, 2026 |
| PAGE JOHN | — | $3.83M | Dec 10, 2025 |
| Estrada Ingrid A | — | $3.39M | Sep 4, 2026 |
| Dougherty Neil | — | $1.48M | Sep 21, 2026 |
| Li Jeffrey K | — | $1.38M | Mar 24, 2026 |
| CULLEN JAMES | — | $1.04M | Jun 2, 2026 |
| NYE JEAN MCCLUNG | — | $957.7K | Aug 21, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 30, 2026 | Dhanasekaran Satish President and CEO | Sale | 3,000 | $1.09M |
| Sep 23, 2026 | POOLE LISA M. VP and Controller | Sale | 200 | $69.6K |
| Sep 21, 2026 | Dougherty Neil EVP and CFO | Sale | 2,000 | $681.6K |
| Sep 4, 2026 | Estrada Ingrid A SVP | Sale | 2,000 | $652.2K |
| Aug 26, 2026 | Reese Scott Director | Award | 435 | $0 |
| Aug 21, 2026 | NYE JEAN MCCLUNG Director | Sale | 3,000 | $957.7K |
| Aug 20, 2026 | Estrada Ingrid A SVP | Sale 10b5-1 plan | 2,000 | $629.3K |
| Aug 1, 2026 | POOLE LISA M. VP and Controller | Tax withheld | 32 | $10.2K |
| Jul 6, 2026 | ALLOUCHE ARNAUD SVP | Award | 1,474 | $0 |
| Jun 30, 2026 | Estrada Ingrid A SVP | Sale 10b5-1 plan | 2,000 | $681.7K |
| Jun 25, 2026 | Dhanasekaran Satish President and CEO | Sale 10b5-1 plan | 507 | $183.2K |
| Jun 2, 2026 | CULLEN JAMES Director | Sale | 3,000 | $1.04M |
| May 26, 2026 | JUSKIE JO ANN SVP | Tax withheld | 136 | $48.4K |
| May 18, 2026 | Dhanasekaran Satish President and CEO | Tax withheld | 500 | $170.2K |
| Mar 30, 2026 | HAMADA RICHARD P Director | Sale | 870 | $239.9K |
| Mar 24, 2026 | Dhanasekaran Satish President and CEO | Sale | 1,667 | $500.1K |
| Mar 24, 2026 | Dougherty Neil EVP and CFO | Sale | 2,000 | $596.7K |
| Mar 24, 2026 | Li Jeffrey K SVP and Secretary | Sale | 2,000 | $594.4K |
| Mar 20, 2026 | CULLEN JAMES Director | Award | 870 | $0 |
| Mar 20, 2026 | Holthaus Michelle Johnston Director | Award | 870 | $0 |
| Mar 20, 2026 | Olsen Joanne Beth Director | Award | 870 | $0 |
| Mar 20, 2026 | Stephens Kevin A Director | Award | 870 | $0 |
| Mar 20, 2026 | HAMADA RICHARD P Director | Award | 870 | $0 |
| Mar 20, 2026 | Nersesian Ronald S. Director | Award | 870 | $0 |
| Mar 20, 2026 | Jensen Keith Director | Award | 870 | $0 |
| Mar 20, 2026 | NYE JEAN MCCLUNG Director | Award | 870 | $0 |
| Mar 20, 2026 | Dockendorff Charles J Director | Award | 870 | $0 |
| Mar 19, 2026 | Dhanasekaran Satish President and CEO | Sale | 1,667 | $483.4K |
| Mar 17, 2026 | Nersesian Ronald S. Director | Sale 10b5-1 plan | 30,000 | $8.58M |
| Feb 27, 2026 | JUSKIE JO ANN SVP | Sale | 1,000 | $304.4K |
| Feb 20, 2026 | Estrada Ingrid A SVP | Sale 10b5-1 plan | 2,000 | $475.4K |
| Jan 12, 2026 | Nersesian Ronald S. Director | Tax withheld | 5,012 | $1.03M |
| Dec 30, 2025 | YOON SUNG SVP | Gift | 500 | $0 |
| Dec 30, 2025 | YOON SUNG SVP | Sale | 889 | $183.7K |
| Dec 30, 2025 | Dougherty Neil EVP and CFO | Gift | 561 | $0 |
| Dec 22, 2025 | Dougherty Neil EVP and CFO | Sale | 1,000 | $203.7K |
| Dec 11, 2025 | YOON SUNG SVP | Tax withheld | 152 | $30.6K |
| Dec 11, 2025 | PAGE JOHN SVP | Tax withheld | 70 | $14.1K |
| Dec 11, 2025 | JUSKIE JO ANN SVP | Tax withheld | 203 | $40.9K |
| Dec 11, 2025 | Dougherty Neil EVP and CFO | Tax withheld | 358 | $72.1K |
| Dec 11, 2025 | KARY JASON ANDREW SVP | Tax withheld | 112 | $22.6K |
| Dec 11, 2025 | Estrada Ingrid A SVP | Tax withheld | 218 | $43.9K |
| Dec 11, 2025 | Dhanasekaran Satish President and CEO | Gift | 2,400 | $0 |
| Dec 10, 2025 | NYE JEAN MCCLUNG Director | Gift | 485 | $0 |
| Dec 10, 2025 | PAGE JOHN SVP | Gift | 150 | $0 |
| Dec 10, 2025 | PAGE JOHN SVP | Sale | 15,000 | $3.20M |
| Dec 9, 2025 | Dhanasekaran Satish President and CEO | Sale | 4,230 | $894.3K |
| Dec 4, 2025 | NYE JEAN MCCLUNG Director | Gift | 2,500 | $0 |
| Dec 3, 2025 | Li Jeffrey K SVP and Secretary | Sale 10b5-1 plan | 3,934 | $790.1K |
| Dec 3, 2025 | Li Jeffrey K SVP and Secretary | Gift 10b5-1 plan | 200 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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