Shares of Science Applications (NYSE:SAIC) are up in today’s trading session after it reported earnings for the fourth quarter of its 2023 fiscal year. Earnings per share came in at $2.04, with revenue of $1.97 billion. This beat EPS estimates of $1.66 and revenue expectations by $110 million.
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Looking forward, management expects adjusted EPS and revenue for Fiscal Year 2024 to be in the ranges of $6.80 to $7 and $7.6 billion to $7.8 billion, respectively. In addition, free cash flow is anticipated to be between $460 million to $480 million, with a backlog of $23.8 billion.
The past five days show that SAIC stock was already in an uptrend. Nevertheless, today’s news gave shares a noticeable boost, which means that investors are now up over 3% during this timeframe.