Santa Rosa-based Keysight Technologies (NYSE: KEYS) reported a $114 million loss for its fourth quarter but still exceeded Wall Street expectations, sending its stock upward.
Keysight, the world’s largest electronics measurement company, said its losses rose to 61 cents per share, up from a loss of $38 million, or 20 cents per share, in the fiscal fourth quarter of 2017.
However, Ron Nersesian, Keysight president and CEO, noted in a statement the company generated a record $3.9 billion in revenue for fiscal 2018 and it would “continue to see broad-based momentum across multiple end markets with our solutions.”
“Fiscal 2018 was a record year for Keysight and we are pleased with our total performance,” Nersesian said in the Nov. 20 earnings announcement. “The investments we have made over the past several years in our technology, solutions, software and services are delivering results and have enabled Keysight to be at the forefront and capture the demand we see in the market.”
Fourth-quarter revenue was $1.05 billion, up 19 percent from a year before. The company is projecting revenue for the first quarter of its fiscal 2019 to be $962 million to $982 million.
“Keysight delivered a very strong finish to a breakout year with both revenue and earnings exceeding the high-end of our guidance for the quarter,” Nersesian said.
The company’s stock closed at $54.35 per share on Tuesday, but rose 6 percent in after-hours trading.
CORRECTION: The original story had a figure for full-year revenue that actually was fourth-quarter revenue.
A shorter version of this story originally appeared on PressDemocrat.com.