SAIC (SAIC) Tops Q2 Earnings and Revenue Estimates

SAIC reported quarterly earnings of $3.01 per share, significantly beating the consensus estimate of $2.25 per share, representing a 33.78% earnings surprise. The company also exceeded revenue expectations with $1.88 billion in quarterly revenues. SAIC has outperformed the S&P 500 by 12.4% year-to-date and holds a Zacks Rank #2 (Buy) rating. Meanwhile, peer C3.ai is expected to report a quarterly loss of $0.26 per share with declining revenues.