Why Shares of Perspecta Soared Today
Shares of Perspecta (NYSE:PRSP) gained 10.5% on Thursday after the government IT specialist posted quarterly results that beat analyst expectations and raised its guidance for the year. The company is performing well but is yet to resolve the biggest worries hanging over the stock.
After markets closed Wednesday, Perspecta reported fiscal first-quarter earnings of $0.52 per share on revenue of $1.11 billion, surpassing Wall Street expectations for $0.50 per share in earnings on revenue of $1.08 billion. Revenue was up 7% year over year on an adjusted basis.
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The company also raised its forecast for full-year fiscal 2020 earnings to $2.08 to $2.18 per share, ...