How Rare Is Keysight’s Record Sales Growth?

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Keysight Technologies (KEYS) sold 36.5% more in its latest quarter than in the same quarter a year earlier, reporting its fastest sales growth in ten years. An investor who sees a number like that will wonder whether it is a one-off. So what does Keysight’s sales growth usually look like?

How Unusual Is This For Keysight?

In a typical quarter, Keysight’s sales grow about 8.9% from a year earlier, representing the middle value across the last forty quarters. The 36.5% growth in fiscal Q3 2026, the quarter to July, lands far above that typical pace. A look at the same quarter in each of the last ten years shows how much the pace moves around.

Keysight passed its previous record of 36.4%, set in fiscal Q2 2021, the quarter to April 2021. That quarter is absent from the table, which shows only the July quarter of each year. The latest result marks a fresh break by a tenth of a point, not a record the company has been extending for several quarters. The milestone is measured on reported sales: on a core basis, which leaves out recent acquisitions and currency moves, management said revenue grew 31%, against 36% as reported. Keysight has grown nearly this fast once before in ten years, making the pace rare but not unheard of.

What Is Behind Keysight’s Record Sales Growth?

Most of the growth came from communications. Management said on the August 18, 2026 call that Keysight’s Communications Solutions Group, about 69% of its sales in fiscal 2025, grew revenue 43% in the quarter to July. Within that group, Commercial Communications grew 56%, led by wireline, which sold more than wireless for the first time.

The smaller Electronic Industrial Solutions Group grew 21%, logging growth in all three of its markets: general electronics, semiconductor, and automotive and energy. Management named AI infrastructure scaling, speed transitions, and silicon photonics as sources of growth with its customers.

Is The Latest Quarter Still Improving?

A record set in a single quarter can be a spike, but Keysight’s is not one so far. Sales growth has risen in each of the last three quarters, climbing from 10.3% in the quarter to October 2025 to 31.5% in the quarter to April 2026, and pushing higher again in the quarter to July.

Sales grew 25.5% over the last twelve months, so the latest quarter is running well ahead of the year as a whole. The newest quarter is still pushing the pace up, not falling back from a one-off.

When The Record Is Next Tested

Management expects revenue in the quarter to October 2026 to grow about 37% from a year earlier, at the midpoint of a guide it raised on the August 18 call. Management also said supply is likely to limit how fast Keysight can turn demand into revenue for the next several quarters.

Keysight stock returned 86.2% in the year to October 22, 2026, against 15.1% for the S&P 500. When the company reports in November 2026, Keysight’s sales growth in the quarter to October, stacked against 36.5% in the quarter to July, is the number to watch.

Does This Mean You Should Act On KEYS?

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