Why Booz Allen Hamilton Shares Are Soaring Today
Defense IT specialist Booz Allen Hamilton (NYSE: BAH) easily surpassed Wall Street expectations for the quarter and raised full-year guidance. Investors are cheering the news, sending Booz shares up 13% as of 10:45 a.m. ET.
Booz Allen Hamilton provides technology and IT services to military and civil government customers, with a large presence in the intelligence community. The company earned $1.81 per share in its fiscal second quarter ending Sept. 30 on sales of $3.15 billion, topping Wall Street's $1.49 per share on revenue of $2.97 billion estimate.
Revenue was up 18% year over year, and operating income more than doubled. The sales number did benefit from the successful resolution of an audit of claimed costs. Without that benefit, revenue would have been up about 13%.
Source Fool.com
