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Why Booz Allen Hamilton Stock Is Plunging Today

·2 min read
Why Booz Allen Hamilton Stock Is Plunging Today

Defense IT specialist Booz Allen Hamilton (NYSE: BAH) delivered quarterly earnings that came in ahead of expectations, but revenue was light, and 2022 guidance was reduced. Booz Allen, one of the leading providers of technology and consulting services to the Pentagon and other government agencies, reported fiscal third-quarter earnings of $1.02 per share. Booz Allen also reduced its full-year sales guidance from 8.5% growth, at the midpoint, to 6.5% growth, and reaffirmed its previous guidance to expect full-year earnings of between $4.10 and $4.30 per share.