Palantir shares drop more than 13% after earnings

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

Charles Platiau | Reuters

Shares of Palantir fell more than 13% on Thursday morning after the company reported mixed earnings results for the fourth quarter.

Here are the key numbers:

  • Earnings per share (EPS): 2 cents, adjusted vs. 4 cents estimated, according to a Refinitiv survey of analysts
  • Revenue: $433 million vs. $418 million estimated, according to Refinitiv

Palantir said it expects $443 million in revenue in the first quarter, while analysts had been expecting about $439 million, according to Refinitiv. It continues to expect annual revenue growth of 30% or more through 2025.

But its reported net loss was $156.19 million, wider than the $148.34 million of the fourth quarter in 2020.

The software company, known for its work with government agencies, said that revenue increased 26% year over year and that it added 34 net new customers in the fourth quarter.

It also said it closed 64 deals in the quarter of $1 million or more, including 27 of which were at least $5 million and 19 of which were at least $10 million.

Palantir expanded its commercial business throughout 2021, with revenue up 34% year over year to $645 million. U.S. commercial revenue alone soared 102% with the customer count jumping 4.7 times to 80. In 2021, government revenue gained 47% to $897 million.

Subscribe to CNBC on YouTube.

WATCH: Palantir CFO describes the seven-year journey to bring the company public

Source link

Products You May Like

Leave a Reply

Your email address will not be published.

Get The Best Financial Tips
Straight to your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Slot Anti Rungkad

https://codanceacademy.com/

https://www.primedisplays.com.br/

https://www.jfpet.com.br/