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Booz Allen Hamilton Reports Strong Q3 Results

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Shares of Booz Allen Hamilton Holding rose by an impressive 13% to reach $145.35 following the release of their third-quarter financial results. The company also raised their fiscal 2024 outlook, contributing to the positive investor sentiment.

Over the past year, Booz Allen Hamilton’s stock has seen a remarkable increase of approximately 50%. If this upward trend continues, the company is poised to achieve a new all-time high, marking their largest percentage increase since July 2012.

During the quarter ended on December 31, the high-tech defense contractor reported a net income of $145.6 million, translating to earnings of $1.11 per share. This represents significant growth compared to the previous year’s figures of $30.7 million and 23 cents per share, respectively. Adjusted earnings for the quarter stood at $1.41 per share, outperforming analysts’ estimates, which projected earnings of $1.14 per share.

Booz Allen Hamilton’s revenue also experienced a notable increase, rising from $2.28 billion to $2.57 billion. This surpassed analysts’ expectations of $2.54 billion as per FactSet polls.

Looking ahead to fiscal 2024, the company revised their revenue growth target to a range of 14% to 15%, improving upon their previous forecast of 11% to 14%. They also adjusted their guidance for earnings per share, which now falls within the range of $5.25 to $5.40, compared to the previous range of $4.95 to $5.10.

In conclusion, Booz Allen Hamilton’s strong third-quarter performance, along with their raised fiscal 2024 outlook, has contributed to a surge in their stock price. As they continue to exceed expectations and demonstrate growth, investors are showing confidence in the company’s future prospects.

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