Keysight Posts Higher Revenue, Operating Income, Net Income, and Diluted EPS Year-Over-Year on Both Three-Month and Nine-Month Windows

Bottom line

Keysight Technologies, Inc. — the engineering design, emulation, and test solutions provider cited in the filing — posts higher revenue, higher operating income, higher net income attributable to the parent, and higher diluted earnings per share on both the three-month reporting period and the nine-month year-to-date period when each is read against its prior-year comparative. Every line carried by the filing moves in the same direction: top-line growth arrives alongside expanding operating income, net income rises in turn, and the per-share result steps up against the prior year. None of the four metrics shows a transition out of profit; each comparison stays profit to profit. The revenue line is presented in the filing under two adjacent captions — Revenue from Contract with Customer, Excluding Assessed Tax and Revenues — and both captions carry the same directional read on both windows.

The filing evidence does not single out one driver behind any of the moves. The reader-facing record is restricted to the directional facts the filing supplies, and the qualitative causal layer is not supported by the quoted source narrative beyond a reference to risk factors at Part II, Item 1A, and to the IEEPA tariff refund activity recorded through other accrued liabilities, other current assets, and a corresponding reduction of revenue in the condensed consolidated statement of operations. The acquisition of Spirent Communications plc is disclosed in the quoted narrative as completed in the prior fiscal year for cash consideration funded from existing cash, and the IEEPA-related refund proceeds received during the three and nine months ended are disclosed as outstanding refund claims receivable. None of those disclosures is mapped in the evidence ledger to a specific period-over-period revenue, operating income, net income, or diluted EPS delta, and any attempt to attribute the directional moves to those items would exceed what the ledger supports.

For context, a reader comparing this read against another recent interim filing from the same sector can place the report alongside the earlier Keysight interim filing noted in the broader coverage window at Keysight Posts Higher Revenue, Operating Income, Net Income, and Diluted EPS Year-Over-Year on Both Three-Month and Six-Month Windows. A reader should also note that the directional read on the nine-month operating-cash, investing-cash, and financing-cash flows, on common-stock repurchases, and on capital expenditure for property, plant, and equipment is outside this section's scope and is not asserted here. Per-share values for the prior-year nine-month, prior-year quarter, current nine-month, and current quarter are reported in USD/SHARES by the filing; net income and operating income are reported in USD; and revenue is reported in USD under both captions. The filing's identity, fiscal period, ticker, CIK, and accession are taken from the filing header rather than restated in the prose. The peer and industry comparison layer is not supported by the filing evidence.

Financial performance

- For the three-month reporting period, Revenue from Contract with Customer, Excluding Assessed Tax moved higher than the prior-year comparative, and the nine-month year-to-date window also finished higher than the prior-year comparative. Net Income (Loss) Attributable to Parent improved on both the quarter and the nine-month year-to-date windows, with each period remaining profitable against a profitable prior year. Operating Income (Loss) followed the same pattern, lifting on both the quarter and the year-to-date windows while staying profitable in both the current and prior periods.

Earnings Per Share, Diluted likewise increased on the quarter and on the year-to-date period, again profit-to-profit. The Revenues line, reported separately, was also higher than the prior-year comparative on both windows, providing a second independent read on the top line. - Reported facts.

The three-month reporting period showed Revenue from Contract with Customer, Excluding Assessed Tax of $1,846,000,000 USD against $1,352,000,000 USD in the prior-year comparative, and the nine-month year-to-date period showed $5,163,000,000 USD against $3,956,000,000 USD. The parallel Revenues line shows $1,846,000,000 USD for the quarter versus $1,352,000,000 USD, and $5,163,000,000 USD versus $3,956,000,000 USD for the year-to-date window. Operating Income (Loss) was $461,000,000 USD for the quarter versus $234,000,000 USD, and $1,116,000,000 USD versus $659,000,000 USD for the year-to-date window.

Net Income (Loss) Attributable to Parent was $397,000,000 USD versus $191,000,000 USD, and $1,027,000,000 USD versus $617,000,000 USD across the nine months. 56 per diluted share USD/SHARES for the year-to-date period. - Management explanations.

The narrative discusses an IEEPA-tariff matter: following the cited Supreme Court determination, management concluded the company was released from the underlying obligation under the legal-release model within the scope of the cited Accounting Standards Codification topic on Liabilities, recorded a liability in other accrued liabilities for tariff surcharges to be refunded to customers with an offsetting reduction of revenue, and recognized IEEPA tariff refund proceeds received during the three- and nine-month periods.

The filing also discloses the October (omitted) completion of the Spirent Communications plc acquisition, financed with existing cash, with purchase consideration that includes amounts for outstanding awards and unvested options under Spirent's compensation plans, goodwill assigned across the CSG and EISG reportable segments, and a deferred tax liability for the future amortization of acquired intangibles. The filing notes no material changes to significant accounting policies since the cited Annual Report on Form (omitted) and identifies pending FASB guidance on income-tax disclosures and expense-disaggregation that the company is evaluating for adoption.

- Analyst inference. The unchanged tone of the accounting policies, combined with the explicit IEEPA refund liability and revenue reduction, suggests the reported revenue figure already reflects the customer refund effect, but the magnitude of that effect is not separately quantified in the cited text. The Spirent close sits within the three-month reporting window, so current-period results include the initial consolidation of Spirent while the prior-year comparative does not, a scope change that materially affects year-over-year comparability of the income-statement lines; the cited text does not isolate organic growth from acquisition contribution.

- Counter-evidence. None in the cited material. - Unknowns.

The filing evidence does not attribute this change to any single cause. The filing evidence contains no peer or industry comparison.

Operating drivers and segments

- Reported revenue for the three-month reporting period of Keysight Technologies, Inc. (KEYS) was higher than the prior-year comparative, rising to $1,846,000,000 from $1,352,000,000 (a separate "Revenues" line is also reported at $1,846,000,000 against $1,352,000,000). - Reported revenue for the nine-month year-to-date period was higher than the prior-year comparative, rising to $5,163,000,000 from $3,956,000,000 (a separate "Revenues" line is also reported at $5,163,000,000 against $3,956,000,000). - Reported operating income for the three-month reporting period was higher than the prior-year comparative, rising to $461,000,000 from $234,000,000. - Reported operating income for the nine-month year-to-date period was higher than the prior-year comparative, rising to $1,116,000,000 from $659,000,000. - The filing under 10-Q for period-ended-2026-07-31 (0001601046-26-000036; 0001601046) does not disclose an operating-segment revenue or operating-income breakdown for the quarter or year-to-date windows; the disaggregation shown in the source narrative is by geographic region, end market, and timing of revenue recognition rather than reportable segments. The filing evidence contains no peer or industry comparison.

- Management frames Keysight Technologies, Inc. as a mission-critical design enablement partner for technology innovators, connecting design, emulation, and test solutions across engineering lifecycles and serving customers in artificial intelligence infrastructure, communications, industrial automation, aerospace and defense, automotive, semiconductor, and general electronics end markets. - Management describes the company as helping engineering teams accelerate innovation, reduce risk, and bring new technologies to market on shorter schedules, and positions its solutions as bridging virtual design and physical reality across those end markets. - Management cites a recent Supreme Court determination that certain tariffs imposed under the International Emergency Economic Powers Act were not authorized by law, and references a related liability and refund-claims receivable on the condensed consolidated balance sheet. The cited note Item 1A is identified as the place where risks related to tariff refund claims are discussed further. - Management states that there have been no additional material changes to significant accounting policies since the most recent Annual Report, and notes pending FASB guidance on disaggregated income taxes and on additional expense disclosures, with adoption being evaluated.

<prose> This section reads the operating drivers and segment evidence that the interim filing actually contains, and separates what management asserts from what an outside reader can independently verify. The company, Keysight Posts Higher Revenue, Operating Income, Net Income, and Diluted EPS Year-Over-Year on Both Three-Month and Six-Month Windows, is described by management as a design enablement partner spanning AI infrastructure, communications, industrial automation, aerospace and defense, automotive, semiconductor, and general electronics end markets, and it ties that positioning to bridging virtual design and physical reality. Those categories — geography, end market, and timing of revenue recognition — are precisely the disaggregation axes management says best depict how revenue and cash flows are affected by economic factors, rather than a segment-by-segment profitability map.

On the numbers the filing does disclose, the three-month and nine-month year-to-date windows both show higher revenue and higher operating income than the prior-year comparatives, with operating income remaining in profit on both windows and transitioning from profit to profit. A second, separately captioned "Revenues" line appears alongside "Revenue from Contract with Customer, Excluding Assessed Tax" for the same periods, but the filing does not explain the relationship between the two revenue captions within this excerpt. No operating-segment revenue or operating-income breakdown is provided, so segment-level margin movement cannot be assessed from the filing evidence.

Management also calls out a specific non-operating driver: a Supreme Court ruling against certain IEEPA-based tariffs, which the company treated as a legal release and which produced an "other accrued liabilities" entry for refunds to customers (with a corresponding reduction of revenue) and a refund-claims receivable elsewhere on the balance sheet. The filing directs readers to the Risk Factors discussion in Item 1A for further context on those claims. The filing evidence does not attribute this change to any single cause. Pending FASB guidance on income-tax disaggregation and additional expense disclosures is flagged as in evaluation, with no claimed material impact today.

Cash flow and capital

- Operating cash generation strengthened on a year-over-year basis across the nine-month year-to-date window: net cash provided by operating activities moved from $1,184,000,000 USD in the nine months ended July 31, 2025 to $1,379,000,000 USD in the nine months ended July 31, 2026, an authorized increase on a positive-to-positive comparison. The filing evidence does not attribute this change to any single cause. - Investing activity remained a net use of cash in both periods, with the outflow widening: net cash used in investing activities was -$97,000,000 USD in the prior-year nine-months versus -$135,000,000 USD in the current nine-months.

The authorized comparison describes a decrease on a negative-to-negative basis. Within that investing line, payments to acquire property, plant, and equipment grew from $90,000,000 USD to $97,000,000 USD (authorized increase, positive-to-positive), suggesting a heavier capex footprint this year. , with purchase-accounting fair-value work still being refined; quantitative drivers of the wider investing outflow are not allocated line-by-line in the cited passages.

- The financing line swung from a source of cash to a use: net cash provided by financing activities of $487,000,000 USD in the nine months ended July 31, 2025 became net cash used in financing activities of -$515,000,000 USD in the nine months ended July 31, 2026 (authorized decrease, positive-to-negative). Buyback activity accelerated alongside that flip — payments for repurchase of common stock moved from $275,000,000 USD to $517,000,000 USD, an authorized increase on a positive-to-positive basis. Management has not, in the passages reviewed, attributed the financing swing to any one cause; the higher repurchase volume sits inside a wider financing outflow that the cited note does not reconcile item by item.

The filing evidence does not attribute this change to any single cause. - On the balance-sheet side, the company closed the period with $2,605,000,000 USD in cash and cash equivalents at carrying value as of the balance sheet date of July 31, 2026, alongside $1,817,000,000 USD of long-term debt excluding current maturities. With operating cash up, capex up, and a higher repurchase total inside a now-negative financing line, the cash trajectory points to a heavier return-of-capital posture being funded from working-capital generation; the floating acquisition-related balances, including the Spirent and Optical Solutions Group purchase-accounting refinements described in Note 13's surrounding acquisition narrative, sit alongside that posture but the filing does not break out a net-debt or net-cash figure in the cited passages.

- Capital allocation priorities apparent in the filing center on share repurchases (higher than the prior period) and organic capex (higher than the prior period), executed while the company carried out two sizable M&A moves and one related divestiture. The degree to which each component — buybacks, capex, M&A, and debt movement — contributed to the financing-line swing is not separately disclosed in the passages reviewed.

Peer and historical context

- Looking at the most recent three-month reporting period, Revenue from Contract with Customer, Excluding Assessed Tax was $1,846,000,000 USD, higher than the prior-year comparative figure of $1,352,000,000 USD for the three months ended July 31, 2025, continuing the direction of expansion that began earlier in the year. - That same three-month window also shows Operating Income (Loss) at $461,000,000 USD, higher than the prior-year comparative $234,000,000 USD for the three months ended July 31, 2025, and Net Income (Loss) Attributable to Parent at $397,000,000 USD, higher than the prior-year comparative $191,000,000 USD for the three months ended July 31, 2025, both extending a profit-to-profit transition first established in the year-to-date comparison.

- On the year-to-date basis through the nine months ended July 31, 2026, Revenues stood at $5,163,000,000 USD, higher than the prior-year comparative $3,956,000,000 USD for the nine months ended July 31, 2025, with Revenue from Contract with Customer, Excluding Assessed Tax at $5,163,000,000 USD, higher than the prior-year comparative $3,956,000,000 USD for the nine months ended July 31, 2025. - Operating Income (Loss) for the year-to-date window reached $1,116,000,000 USD, higher than the prior-year comparative $659,000,000 USD for the nine months ended July 31, 2025, while Net Income (Loss) Attributable to Parent sat at $1,027,000,000 USD, higher than the prior-year comparative $617,000,000 USD for the nine months ended July 31, 2025, completing a profit-to-profit transition on both reporting windows.

- Net Cash Provided by (Used in) Operating Activities for the nine-month year-to-date period was $1,379,000,000 USD, higher than the prior-year comparative $1,184,000,000 USD for the nine months ended July 31, 2025, reinforcing the operating story that the income statement comparisons describe. - The pattern of higher revenue, higher operating income, higher net income, and higher operating cash flow on a year-over-year basis is consistent with prior Keysight coverage such as Keysight Posts Higher Revenue, Operating Income, Net Income, and Diluted EPS Year-Over-Year on Both Three-Month and Six-Month Windows, where the same four-way direction was observed across the three-month and six-month windows.

- The filing evidence contains no peer or industry comparison. - The pattern is also consistent with peers showing the same direction across an interim filing, as captured in Palantir Technologies Reports Higher Revenue, Operating Income, Net Income, and Diluted EPS on Both Three-Month and Six-Month Year-to-Date Windows in Interim Filing, which similarly shows higher results on both windows without any peer benchmarking being performed here.

- The filing evidence does not attribute this change to any single cause.

Scenario analysis

Under a base-case reading of the 10-Q for period-ended-2026-07-31 filed under accession 0001601046-26-000036, Keysight Technologies, Inc. continues to print higher top-line and bottom-line figures than the prior-year windows. Revenue from Contract with Customer, Excluding Assessed Tax for the nine months ended July 31, 2026 of $5,163,000,000 and for the three months ended July 31, 2026 of $1,846,000,000 both sit above the prior-year comparatives of $3,956,000,000 and $1,352,000,000. The Revenues presentation tracks the same direction, with $5,163,000,000 and $1,846,000,000 exceeding $3,956,000,000 and $1,352,000,000. Net Income (Loss) Attributable to Parent extends the trend, with $1,027,000,000 and $397,000,000 higher than $617,000,000 and $191,000,000. The base case treats the OSG acquisition as an additive contributor to design engineering software and computer-aided engineering capability without materially shifting the underlying profit-to-profit transition that the authorized comparisons already confirm.

An upside case leans on the same authorized profit-to-profit transitions, with revenue, operating income, net income and diluted EPS all higher on both the three-month and nine-month windows versus the prior-year comparatives. The acquisition narrative in the cited note points to intangible-asset categories that include developed technology, customer relationships, backlog, trademark/trade name and in-process research and development, with in-process projects tied to next-generation products scheduled for near-term release. The CSG and EISG reportable segments are identified as the goodwill recipients, suggesting the company expects benefits and synergies to surface across both reporting segments. If those next-generation releases convert and the segment-level synergies materialize, the year-over-year growth profile already visible in $5,163,000,000, $1,846,000,000, $1,027,000,000 and $397,000,000 could extend rather than plateau.

A downside case flags the same acquisition as a source of integration risk. Goodwill was assigned to both CSG and EISG, and the company itself notes that the recorded goodwill and any future impairment charges are not expected to be deductible for income tax purposes, which limits the after-tax shield from any later write-down. The fair-value measurement period remained active during the nine months ended July, indicating that purchase accounting was not yet finalized at the close of the reporting window. Acquisition and integration costs flowed through research and development and selling, general and administrative lines for the three- and nine-month periods, signalling near-term cost absorption. The filing evidence does not attribute this change to any single cause. The filing evidence contains no peer or industry comparison. A reader can cross-check the underlying transition through Keysight Posts Higher Revenue, Operating Income, Net Income, and Diluted EPS Year-Over-Year on Both Three-Month and Six-Month Windows when weighing how durable the profit-to-profit direction is likely to be.

Risks and what to watch

The headline year-over-year comparisons in this 10-Q filed by Keysight Technologies, Inc. for period-ended-2026-07-31 (accession 0001601046-26-000036) all read in the same direction across both windows: revenue under both captions, operating income, net income attributable to parent, and diluted earnings per share were higher than the prior period on both the three-month and nine-month year-to-date views. Net cash provided by operating activities was higher than the prior period as well. The one direction that ran against the rest of the income statement was on the financing side, where net financing cash flow moved from a positive figure in the prior nine-month comparative to a use of cash in the current nine months, while net investing cash flow was a larger use than the prior period and capital expenditure and common stock repurchase payments were both higher than the prior year. Investors should therefore not treat the income-statement strength as automatically translating into a stronger cash-return story without watching the financing-line composition next period.

- Reported facts cited from the filing: revenue from contracts with customers for the three months ended July 31, 2026 and the nine months ended July 31, 2026 under the "Revenue from Contract with Customer, Excluding Assessed Tax" caption, paired with their prior-year comparatives, came in at $1,846,000,000, $5,163,000,000, $1,352,000,000 and $3,956,000,000 respectively. The parallel "Revenues" caption on the same statements shows $1,846,000,000, $5,163,000,000, $1,352,000,000 and $3,956,000,000. Net income attributable to parent on the same windows was $397,000,000, $1,027,000,000, $191,000,000 and $617,000,000. All authorized comparisons for these captions indicate an increase on both the quarter and the nine-month year-to-date basis, and all four transitions for net income are profit-to-profit.

- Management explanations quoted in the source narrative describe the OSG acquisition as expanding the design engineering software portfolio and computer-aided engineering capabilities, with goodwill assigned to the CSG and EISG reportable segments; the acquired in-process research and development was valued by discounting forecasted cash flows, and post-close fair-value refinements occurred during the nine months ended July referenced in the filing. The narrative also notes that acquisition and integration costs flowed through research and development and selling, general and administrative lines, and that goodwill is not expected to be deductible for income tax purposes.

- Analyst inference must remain narrow: the filing discloses direction and transition but does not quantify acquisition contribution, organic growth, currency impact, or segment mix shifts, so any read on what specifically drove the higher revenue and profit lines is unsupported by the filing evidence. The filing evidence does not attribute this change to any single cause.

- Counter-evidence: the swing in net financing cash flow from a positive prior-year nine-month figure to a negative current figure is a meaningful offset to the otherwise uniform positive direction across the income statement and operating cash flow. The higher investing outflow and the higher share-repurchase and capital-expenditure cash payments sit alongside the financing swing, so a reader should weigh the cash-return mechanics against the operating performance. The filing evidence contains no peer or industry comparison.

- Unknowns for next period: segment-level disaggregation by end market and geography, any updated integration cost run-rate from the OSG deal, the mix of revenue recognition timing within CSG and EISG, the implied forward repurchase pace, and any currency hedging impact are not quantified in this filing. Cross-checking these items against the prior Keysight Posts Higher Revenue, Operating Income, Net Income, and Diluted EPS Year-Over-Year on Both Three-Month and Six-Month Windows coverage may help frame what to ask for next.

- Metrics to watch next period: the directional pattern of revenue under both captions, operating income, net income, diluted EPS, operating cash flow, the financing-line sign, common stock repurchase payments, and capital expenditure payments on the year-to-date window, together with segment revenue split between CSG and EISG and any qualitative update on OSG integration. Risks called out under Item 1A and quantitative disclosures under Item 3, controls under Item 4, legal proceedings under Item 1, and exhibits under Item 6 are the structural sections to revisit alongside those metrics.