Mercury Systems (NASDAQ: MRCY) stock appeared set to lock in a double-digit gain in share price this week. According to data compiled by S&P Global Market Intelligence, as of the wee hours Friday morning the defense communications company's shares were up by nearly 13% week to date. A strong earnings report was the key factor in that rise.

Mercury published its fourth quarter of fiscal 2024 figures after market hours Tuesday, and the reaction from both investors and analysts was strongly positive.

This was despite the fact that revenue was actually down on a year-over-year basis for the period. It came in at $248.6 million, against the fourth quarter of fiscal 2023 tally of over $253 million.

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Source Fool.com