Shares of Keysight Technologies (KEYS) jumped on Thursday after the electronics maker reported quarterly earnings that beat analysts' forecasts.
The Santa Rosa, Calif.-based company posted fiscal second-quarter net income of $153 million, or 80 cents a share, for its fiscal second quarter, vs. $64 million, or 34 cents a share, in the comparable year-earlier period.
Keysight said it earned $233 million, or $1.22 a share on an adjusted basis, compared with $158 million, or 83 cents a share, a year earlier. Revenue rose to $1.09 billion from $990 million a year ago. Analysts had been calling for earnings of 98 cents a share on sales of $1.07 billion.
Keysight said it expects fiscal third-quarter revenue of between $1.02 billion and $1.06 billion, and adjusted per-share earnings of between 97 cents and $1.05.
Separately, Keysight said its board approved a $500 million share buyback program.
The stock was up nearly 11% to $79.24 in mid-afternoon trading on Thursday.