Keysight Technologies, Inc. (KEYS) Q2 2023 Earnings Call Transcript

Keysight Technologies, Inc. (NYSE:KEYS) Q2 2023 Earnings Conference Call May 16, 2023 4:30 PM ET

Company Participants

Jason Kary - Vice President, Treasurer, and Investor Relations

Satish Dhanasekaran - President and Chief Executive Officer

Neil Dougherty - Chief Financial Officer

Mark Wallace - Chief Customer Officer

Conference Call Participants

Samik Chatterjee - J.P. Morgan

Mehdi Hosseini - Susquehanna

Chris Snyder - UBS

Aaron Rakers - Wells Fargo

Meta Marshall - Morgan Stanley

Adam Thalhimer - Thompson Davis

Matt Niknam - Deutsche Bank

David Ridley-Lane - Bank of America

Operator

Good day, ladies and gentlemen, and welcome to the Keysight Technologies Fiscal Second Quarter 2023 Earnings Conference Call. My name is Elisa, and I will be your lead operator today. [Operator Instructions] The call is being recorded today, Tuesday, May 16, 2023 at 1:30 p.m. Pacific Time.

I would now like to hand the call over to Jason Kary, Vice President, Treasurer and Investor Relations. Please go ahead Mr. Kary.

Jason Kary

Thank you, and welcome everyone to Keysight’s second quarter earnings conference call for fiscal year 2023. Joining me are Keysight’s President and CEO, Satish Dhanasekaran, and our CFO, Neil Dougherty. In the Q&A session we will be joined by Chief Customer Officer, Mark Wallace. The press release and information to supplement today’s discussion are on our website at investor.keysight.com under the financial information tab and quarterly reports.

Today’s comments will refer to non-GAAP financial measures. We will also make reference to “core” growth, which excludes the impact of currency movements and acquisitions, or divestitures completed within the last 12 months. The most directly comparable GAAP financial metrics and reconciliations are on our website, and all comparisons are on a year-over-year basis unless otherwise noted.

We will make forward-looking statements about the financial performance of the company on today’s call. These statements are subject to risks and uncertainties and are only valid as of today. We assume no obligation to update them. Please review our recent SEC filings for a more complete picture of these risks and other factors.

Lastly, management is scheduled to participate in upcoming investor conferences hosted by J.P. Morgan, Baird, and UBS.

And now, I will turn the call over to Satish.

Satish Dhanasekaran

Thank you, Jason. Good afternoon, everyone and thank you for joining us today. Keysight delivered a solid second quarter performance caping of a record first half of the year. Our consistent execution as we navigate near-term macro dynamics reflects the resilience of our diversified business and the differentiation of Keysight solution portfolio.