Why Shares of Leidos Holdings Are Up Today
Shares of Leidos Holdings (NYSE: LDOS) traded up nearly 10% on Tuesday after the government services company reported better-than-expected fourth-quarter results. Leidos shares are now up more than 25% year to date, and the company remains optimistic about growth.
Before markets opened Tuesday, Leidos reported fourth-quarter earnings of $1.51 per share on revenue of $2.95 billion, easily surpassing analyst expectations for $1.34 per share on sales of $2.84 billion. Operating income for the quarter was up 38% year over year to $261 million, and operating margin increased by 170 basis points to 8.8%.
Image source: Leidos Holdings.
Source Fool.com
