Keysight Technologies (KEYS.N) reported a better-than-expected fourth-quarter profit on Monday, November 20. The company’s revenue increased by 4% from segments such as aerospace, defense, and government due to investments in defense technology modernization, electromagnetic spectrum operations, radar, space, and satellite.

Despite the positive earnings report, the company mentioned ongoing challenges in various sectors caused by supply chain constraints and elevated raw material costs. They also provided a forecast for their first-quarter profit in 2024, which was slightly lower than the expectations of LSEG estimates.

The company’s electronic design and test products are used in the aerospace and defense industries. Their products include oscilloscopes, network emulators, and software among others. Despite the challenges they face in various sectors, Keysight continues to invest heavily in research and development to provide innovative solutions for their customers.

After the earnings report was released, shares of Keysight Technologies were up 2.4% at $138.20. This report was covered by Priyamvada C and Nathan Gomes in Bengaluru and edited by Shilpi Majumdar.