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What: Shares of Computer Sciences (CSC) have popped today by more than 12% after the company reported earnings this morning with strong outlook.
So what: Revenue during the quarter added up to $3.78 billion, narrowly topping investor expectations. Earnings per share of $0.77 easily beat the consensus estimate of $0.62 per share. Including restructuring charges, the company realized an operating margin of 7.1%.
Now what: The company's turnaround is panning out nicely and its efforts to grow margins are going according to plan. That's leading Computer Sciences to boost its fiscal year 2013 EPS outlook to $2.50 to $2.70, well ahead of the Street's best guesses of $2.37 per share in profit for fiscal 2013. CEO Mike Lawrie said the company divested non-core businesses and is returning cash to shareholders.
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