Why Unisys Shares Popped

Why Unisys Shares Popped

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Unisys have popped by as much as 13% today after the company reported earnings.

So what: Revenue of $859 million crushed the consensus estimate of $838 million. The bottom line also beat, but by less. Unisys posted non-GAAP earnings per share of $0.91, slightly ahead of the $0.90-per-share forecast.

Now what: CEO Ed Coleman said the company was happy with the sequential improvement. The services business was under pressure amid a tough IT spending environment, but the company's technology business helped make up for it. The strength of ClearPath helped buoy the technology segment's performance.

Interested in more info on Unisys? Add it to your watchlist by clicking here.

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The article Why Unisys Shares Popped originally appeared on Fool.com.

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