Keysight Technologies Inc (NYSE:KEYS) stock rose 6.37% (As on August 18, 11:55:50 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the third quarter of FY 22. Orders grew 12 percent to reach $1.46 billion, compared with $1.31 billion last year, or 14 percent on a core basis, which excludes the impact of foreign currency changes and orders associated with businesses acquired or divested within the last twelve months. Non-GAAP net income was $363 million, or $2.01 per share, compared with $286 million, or $1.54 per share in the third quarter of 2021. As of July 31, 2022, cash and cash equivalents totaled $1.85 billion.

KEYS in the third quarter of FY 22 has reported the adjusted earnings per share of $2.01, beating the analysts’ estimates for the adjusted earnings per share of $1.79. The company had reported the adjusted revenue growth of 10 percent to $1.38 billion in the third quarter of FY 22, beating the analysts’ estimates for revenue of $1.34 billion. Electronic Industrial Solutions Group (EISG)  reported revenue of $406 million in the third quarter, up 10 percent over last year, driven by general electronics, semiconductor measurement solutions, and next-generation automotive and energy solutions. EISG reported growth across all regions. Communications Solutions Group (CSG) reported revenue of $970 million in the third quarter, up 11 percent over last year, with strength in 5G, O-RAN, 400G, 800G, and high-speed digital applications, as well as cyber, space and satellite solutions.

Additionally, Keysight acquired approximately 1.6 million shares in the open market at an average share price of $139.46, for a total consideration of $228 million.

For the current quarter ending in October, Keysight expects its per-share earnings to range from $1.94 to $2. The company said it expects revenue in the range of $1.38 billion to $1.4 billion for the fiscal fourth quarter.

Meanwhile, KEYS has extended its collaboration with Synopsys with the integration of PathWave RFIC Design (GoldenGate) with Synopsys Custom Compiler design environment and Synopsys PrimeSim circuit simulation solutions. This will enable designers to validate complex radio frequency (RF) and millimeter wave design requirements for 5G/6G system-on-chip (SoC) and subsystem designs in the Synopsys Custom Design Family. The integration of PathWave RFIC Design (GoldenGate) simulation software, which models complex integrated circuits, with Synopsys Custom Compiler, part of the Synopsys Custom Design Family of products, addresses this challenge by enabling designers to achieve power and performance optimizations and efficiently deliver 5G and 6G designs.