Why Unisys Stock Rose 10.7% Tuesday Morning
Shares of information technology specialist Unisys (NYSE: UIS) rose as much as 10.7% on Tuesday morning following a solid fourth-quarter earnings report. The stock had retreated to a 6.2% gain as of 12:30 p.m. ET.
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In the fourth quarter of 2021, Unisys saw top-line sales falling 6.5% year over year to $539 million. Adjusted earnings slid 30% lower, landing at $0.51 per diluted share. However, the analyst consensus pointed to earnings of roughly $0.36 per share on sales in the neighborhood of $540 million, making this a mixed report with strong, bottom-line profits and roughly in-line revenues. The financial results also measured up to management's guidance targets.
Source Fool.com
