SAIC Raises 2024 Outlook Despite Revenue Dip: What You Need to Know?
Portfolio Pulse from Anusuya Lahiri
Science Applications International Corp (SAIC) reported a 3% Y/Y revenue decline in Q2 FY24 to $1.78 billion, beating the consensus of $1.69 billion. Adjusted for divestiture and deconsolidation impacts, revenues grew 8.3%. Adjusted EPS of $2.05 beat the consensus of $1.62. SAIC raised its FY24 revenue guidance to $7.20 billion - $7.25 billion and increased adjusted EPS guidance to $7.20-$7.40. Despite the positive report, SAIC shares are trading lower by 1.45%.
September 07, 2023 | 1:43 pm
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Despite beating Q2 FY24 revenue and EPS consensus and raising FY24 guidance, SAIC shares are trading lower.
SAIC reported better than expected Q2 FY24 results and raised its FY24 guidance. However, the stock is trading lower, possibly due to the reported 3% Y/Y revenue decline or other market factors not mentioned in the article.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100