Science Applications International Corporation (SAIC), a technology firm, announced second-quarter earnings and revenue that surpassed consensus estimates. The company also adjusted its full-year profit forecast upwards, surpassing Wall Street expectations.The net income for the second quarter was $81 million, or $1.58 per share, a significant decrease from $247 million, or $4.56 per share, in the same period last year. This drop was primarily due to a $234 million gain from the sale of the supply chain business in the previous year’s quarter.Excluding one-time items, the adjusted earnings amounted to $105 million, or $2.05 per share, outperforming the average analyst estimate of $1.85 per share. Typically, these analyst estimates do not include special items.Operating income fell to $134 million from $362 million a year earlier.Quarterly revenue rose to $1.818 billion from $1.784 billion in the previous year, exceeding the consensus estimate of $1.79 billion.For the full year, SAIC now anticipates adjusted earnings per share (EPS) to be in the range of $8.10 to $8.30, up from its previous outlook of $8.00 to $8.20. Wall Street was expecting full-year earnings of $8.07 per share.The material has been provided by InstaForex Company – www.instaforex.com
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