Leidos (LDOS) shares surged 10.37% during intraday trading on Tuesday, extending a robust pre-market rally after the defense contractor reported second-quarter results that significantly exceeded Wall Street expectations.

The company posted adjusted earnings per share of $3.26, a 12% beat over the consensus estimate of $2.91. Revenue climbed 7.2% year-over-year to $4.56 billion, also topping the $4.44 billion estimate. Net bookings reached $4.9 billion, reflecting strong demand momentum. Bolstering the bullish sentiment, Leidos raised the lower end of its full-year adjusted EPS guidance to a range of $12.20 to $12.50, and narrowed its annual revenue outlook to between $18.20 billion and $18.40 billion, with both midpoints exceeding analyst forecasts.

The strong performance and improved outlook reassured investors about the company's growth trajectory amid a robust contract pipeline, triggering heavy buying activity that propelled the stock to double-digit gains shortly after the opening bell.