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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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.