Leidos Q3 profit beats estimates but revenue misses forecasts
· Business · Investing.com Nigeria, CNBC
Leidos reported Q3 earnings per share of $2.14, surpassing analysts' expectations of $2.08, according to Investing.com Nigeria. However, the company's revenue declined to $2.53 billion, falling short of the $2.60 billion average forecast. The defense contractor, headquartered in Reston, Virginia, also saw its full-year revenue guidance lowered to $10.30 billion to $10.40 billion. Investors reacted negatively to the revenue miss despite the profit beat, with shares declining in after-hours trading.
Why it matters
The revenue shortfall raises concerns about Leidos' growth trajectory, potentially impacting contractor budgets and project pipelines that affect U.S. defense spending and related Indian IT services firms like Wipro and TCS.
Read the original report — Investing.com Nigeria
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