Shares of Keysight Technologies (NYSE:KEYS) experienced a more than 13% decline intra-day today due to the company’s provided guidance that came in worse than expected.

The earnings per share (EPS) for the third quarter were $2.19, surpassing the Street estimate of $2.04. The company’s revenue for the quarter remained unchanged year-over-year, amounting to $1.38 billion, aligning with the Street predictions.

Looking ahead to the fourth quarter of 2023, Keysight Technologies anticipates revenue to fall within the range of $1.29 billion to $1.31 billion, falling short of the Street figure of $1.39 billion. The projected non-GAAP EPS for the same period is expected to be between $1.83 and $1.89, which is lower than the analysts’ expectation of $1.99.

For the entire fiscal year, the company anticipates its revenue to reach $5.45 billion and its EPS to be $8.19. This compares to the Street estimates of $5.55 billion in revenue and an EPS of $8.18.

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