Why Booz Allen Hamilton Stock Is Plunging Today

Defense IT specialist Booz Allen Hamilton (NYSE: BAH) delivered quarterly earnings that came in ahead of expectations, but revenue was light, and 2022 guidance was reduced. Investors were not pleased, sending the shares down as much as 10% on Friday.

Booz Allen, one of the leading providers of technology and consulting services to the Pentagon and other government agencies, reported fiscal third-quarter earnings of $1.02 per share. That beat the $0.99 per-share consensus estimate. However, revenue of $2.03 billion came in about $100 million short of expectations.

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Source Fool.com