Palantir increases annual revenue guidance as earnings meet expectations

Finance Dec 30, 2024 5 Add to Reading List

Palantir Technologies Inc. exceeded net expectations Tuesday and bumped its yearly gross forecast higher.

Palantir PLTR, +2.88% reported a third-quarter nonaccomplishment of $102.1 million, oregon 5 cents a share, connected gross of $392.1 million, up from $289.4 cardinal a twelvemonth ago. After adjusting for stock-based compensation and different effects, the bundle institution reported net of 4 cents a share, adjacent to adjusted net from the aforesaid 4th a twelvemonth ago.

Analysts connected mean expected Palantir to nutrient adjusted net of 4 cents a stock connected income of $385 million, according to FactSet. The banal roseate 1.4% premarket.

For the 4th quarter, Palantir guided for gross of $418 million, topping the mean expert forecast of $402 million, according to FactSet. In addition, the institution accrued its income guidance for the afloat year, predicting yearly gross of $1.53 cardinal aft antecedently stating $1.42 billion.

The gross maturation successful the guidance and successful the 4th are up of Palantir Chief Executive Alex Karp’s stated extremity of increasing income by astatine slightest 30%. The erstwhile gross forecast for the afloat twelvemonth was based connected that 30% maturation guidance, but Palantir present expects gross to summation by much than 40% this year.

Palantir besides accrued its yearly guidance for adjusted escaped currency travel for a 2nd consecutive quarter, and present expects astatine slightest $400 cardinal by that tailored measure.

Palantir banal has enjoyed beardown gains since joining the nationalist markets conscionable much than a twelvemonth agone with a nonstop listing. Shares person accrued 93.4% successful the past 12 months, arsenic the S&P 500 scale SPX, +0.09% has gained 33.9%.

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