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Keysight Technologies profit misses consensus by 42.9% in fiscal Q1

Keysight Technologies Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 came to 28 cents per share, compared with the S&P Capital IQ consensus estimate of 49 cents per share.

EPS fell year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $48.1 million, a decline from $48.8 million in the prior-year period.

The normalized profit margin fell to 6.6% from 7.0% in the year-earlier period.

Total revenue rose on an annual basis to $721.0 million from $701.0 million, and total operating expenses increased on an annual basis to $630.0 million from $614.0 million.

Reported net income fell 8.7% from the prior-year period to $63.6 million, or 37 cents per share, from $69.7 million, or 41 cents per share.