Science Applications (SAIC) Plunges 10% on Q4 Earnings Miss

Science Applications International Corporation (SAIC) shares plunged 10% on Monday after the company reported lower-than-expected bottom-line results for the fourth quarter of fiscal 2024. The company reported fourth-quarter adjusted earnings of $1.43 per share, which lagged the Zacks Consensus Estimate by a penny. The figure also decreased 30% year over year due to lower revenues and higher expenses.Revenues declined 12% year over year to $1.74 billion but outpaced the consensus mark by 5.9%. The year-over ...