SAIC Shares Jump 16% After Q3 Earnings Beat Despite Lower Revenue

(RTTNews) - Science Applications International Corp. (SAIC) stock climbed 15.53 percent on Thursday, rising $13.60 to $101.13 after reporting third-quarter results that declined from last year but topped Wall Street expectations. The company posted net income of $78 million, or $1.69 per share, down from $106 million, or $2.13 per share, a year ago. Revenue fell 5.6 percent to $1.866 billion from $1.976 billion last year.

SAIC is trading at $101.98, compared with a previous close of $87.53 on the Nasdaq. The stock opened at $92.00 and has traded between $92.00 and $104.64 so far today, with volume at 1.54 million shares.

The company's 52-week range is $84.16 to $133.00.