Oct 29 (Reuters) - U.S. defense contractor Leidos

Holdings ( LDOS ) raised its annual profit and revenue forecasts

on Tuesday, banking on strong worldwide weapons demand amid

growing geopolitical tensions.

Shares of the company, which develops hypersonic weapons and

other arms, were up 6% before the opening bell.

The ongoing Middle East crisis and the Russia-Ukraine war

have fueled a global surge in defense spending as countries

sought out weaponry contracts, benefiting companies such as

Leidos ( LDOS ), Lockheed Martin ( LMT ) and RTX.

Peers Northrop Grumman ( NOC ), Lockheed Martin ( LMT ) and RTX also

raised their 2024 earnings forecasts last week.

Reston, Virginia-based Leidos ( LDOS ), whose primary customer is the

U.S. Department of Defense, expects its 2024 profit to be

between $9.80 and $10 per share, compared with its prior view of

$8.60 to $9.

The company also lifted its full-year revenue forecast to

the range of $16.35 billion to $16.45 billion from $16.10

billion to $16.40 billion projected earlier.

Leidos' ( LDOS ) profit came in at $2.93 per share for the third

quarter ended Sept. 27, compared with analysts' average estimate

of $2.02, according to data compiled by LSEG.

Its quarterly revenue rose about 7% to $4.19 billion from a

year ago, topping a Wall Street estimate of $4.06.