Palantir stock down 15% pre-market due to shortfall

0

Palantir Technologies CEO Alex Karp arrives at the “Tech for Good” summit in Paris, France, May 15, 2019.

Charles Platiau | Reuters

Shares of Palantir plunged more than 15% in premarket Monday after the company issued a weaker-than-expected revenue outlook and missed its first-quarter earnings bottom line.

Here are the key numbers:

  • Earnings per share (EPS): 2 hundred adj. vs 4 cents expected, according to a Refinitiv survey of analysts
  • Revenue: $446 million vs $443 million expected, per Refinitiv

Palantir said it expects $470 million in revenue for the current quarter, which is lower than analysts’ expectations of $483.7 million, per FactSet. The software company, known for its work with the government, said there is a “wide range of potential benefits” in its guidance “including those driven by our role in responding to developing geopolitical events”.

It reported a net loss of $101.38 million for the quarter, an improvement from $156.19 million in the fourth quarter of 2021.

For the full year 2022, it continues to anticipate an adjusted operating margin of 27%. It also projects annual revenue growth of 30% or more through 2025.

Revenue for the quarter increased 31% year-on-year to $446 million. Commercial revenue for the period increased 54% from the same quarter a year ago, while government revenue increased 16%. The company’s customer base grew 86% year over year.

Subscribe to CNBC on YouTube.

Read the original article here

Disclaimer! Verve Times is an automatic aggregator of all the media in the world. In each content, the hyperlink to the main source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the content owner and do not want us to publish your materials, please contact us by email – [email protected]. Content will be deleted within 24 hours.
Share.

About Author

Comments are closed.