Why Booz Allen Hamilton Stock Is Higher Today
Government IT specialist Booz Allen Hamilton (NYSE: BAH) just topped quarterly expectations and sees the potential for more upside from here. Investors are buying in, sending shares up as much as 7% on Friday. As of 12:45 p.m. ET, the stock was up 4%.
Booz Allen provides a range of technological services to government and private sector customers, with a heavy emphasis on the defense and intelligence markets.
Booz Allen earned $1.33 per share in its fiscal fourth quarter ended March 31 on revenue of $2.77 billion, surpassing Wall Street's consensus estimates for $1.23 per share in earnings on sales of $2.72 billion. Net income was up 287% and revenue jumped nearly 14% year over year, fueled by contract wins in the federal defense and civil markets.
Source Fool.com
