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Why Leidos Stock Is Soaring Today

TheMotleyFool

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Leidos (NYSE: LDOS) stock is posting big gains Tuesday following the publication of the company's third-quarter results. The company's share price was up 9.6% as of noon ET.

Leidos published its third-quarter results before the market opened today, and results in the period received a bullish response from investors. In addition to strong Q3 numbers, the company also raised its full-year sales and earnings targets.

Leidos's revenue increased 7% year over year in the third quarter to reach $4.2 billion. Meanwhile, non-GAAP (adjusted) earnings per share rose 44% year over year to hit $2.93. For comparison, the average analyst estimate had called for sales of roughly $4.07 billion and adjusted earnings of $2.02 per share in the period.

Source Fool.com

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