Why Booz Allen Hamilton Stock Is Sinking Today
Government contractor Booz Allen Hamilton (NYSE: BAH) missed Wall Street's profit expectations for the quarter and set full-year profit guidance that underwhelmed expectations. Investors are looking elsewhere, sending Booz shares down 10% as of 12:30 p.m. ET.
Booz Allen Hamilton provides information technology and consulting services for civilian and military government customers. The company has outperformed the market over the past five years, and investors had big hopes coming into earnings season.
But Booz failed to deliver. The company earned $1.38 per share in its fiscal first quarter ended June 30, well short of the $1.52 per share Wall Street had expected. Revenue, at $2.94 billion, came in close to expectations.
Source Fool.com
