Science Applications International Corporation (SAIC) stock rose 17.42 percent to $122.35, gaining $18.15 on Monday, following the release of its first-quarter financial results, which beat performance figures from the previous year.
The stock is currently trading at $122.35, compared to its previous close of $104.20 on the Nasdaq. During the session, it reached a high of $123.41 and a low of $112.16, with trading volume hitting 593,485 shares, slightly above its average daily volume of 571,185.
The upward movement comes after the company reported a significant increase in Q1 net income to $115 million, or $2.61 per share, compared to $68 million, or $1.42 per share, in the prior year's quarter. Excluding special items, adjusted earnings reached $179 million or $3.23 per share. Additionally, revenue for the period rose 1.5% to $1.906 billion from $1.877 billion last year, bolstering investor confidence in the company's financial growth.
Science Applications International Corporation's 52-week range is $81.08 to $123.41.
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