2024

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<p class="has-drop-cap">Palantir Technologies Inc. (NYSE: PLTR), a leading data analytics company, announced its <a href="https://www.businesswire.com/news/home/20240505799356/en/Palantir-Reports-Revenue-Growth-of-21-Year-Over-Year-and-Sixth-Consecutive-Quarter-of-GAAP-Profitability-GAAP-EPS-of-0.04-in-Q1-2024" target="_blank" aria-label="first-quarter 2024 earnings (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">first-quarter 2024 earnings</a> on Monday, May 6. <br><br>The company reported revenue of $634 million, a 21% increase compared to the same quarter last year, and earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a>) of 8 cents, which met analyst expectations. Palantir also achieved a net income of $105.5 million, representing a 17% rise from the previous year.</p>
<p>However, the stock fell after its guidance was lower than expected. At the time of writing, Palantir was trading at $21.66, down 14.09% from the market open.</p>
<h3 id="palantir-reports-segment-revenue-and-customer-growth">Palantir Reports Segment Revenue and Customer Growth</h3>
<p>The company’s revenue growth was driven by strong performance in both its commercial and government segments. Commercial revenue grew by 27% to $299 million, while government revenue increased by 16% to $335 million, with the U.S. government contributing $257 million to the total government revenue. <br><br>Palantir also saw a 42% jump in customers compared to the same quarter last year, indicating a growing demand for its data analytics solutions.</p>
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<h3 id="palantir-ups-guidance-but-it-s-not-enough">Palantir Ups Guidance, But It’s Not Enough</h3>
<p>Despite the positive earnings, Palantir’s full-year revenue forecast fell short of analyst expectations. The company raised its full-year revenue guidance to between $2.68 billion and $2.69 billion, up from its previous estimate of $2.65 billion to $2.67 billion. <br><br>However, this was below the consensus estimate of $2.71 billion. Palantir also expects its adjusted operating income to be between $868 million and $880 million for the full year. <br><br>For the second quarter, the company anticipates revenue to be between $649 million and $653 million, with adjusted income from operations guided between $209 million and $213 million.</p>
<h3 id="pltr-plunges-after-guidance-announcement">PLTR Plunges After Guidance Announcement</h3>
<p>Following the earnings announcement, <a href="https://tokenist.com/investing/best-stock-brokers/" rel="noopener noreferrer nofollow" class="deco-link">Palantir’s stock price</a> fell over 6% in extended trading as the company’s guidance failed to meet investor expectations. <br><br>As of May 7, 2024, at the time of writing, Palantir’s stock price was $21.66, down 14.09% following the earnings announcement, despite a year-to-date return of +26.12%. Analysts, such as those from Goldman Sachs (NYSE: GS), <a href="https://www.investopedia.com/palantir-q1-2024-earnings-preview-what-you-need-to-know-8640272" target="_blank" aria-label="expressed concerns (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">expressed concerns</a> about the sustainability of Palantir’s U.S. commercial growth and its ability to maintain or accelerate its revenue growth.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><strong><em>Do you think the market is overreacting to Palantir’s numbers? Let us know in the comments below.</em></strong></p>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/palantir-stock-plunges-after-revised-guidance-falls-short-of-forecasts/">Palantir Stock Plunges After Revised Guidance Falls Short of Forecasts</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Palantir Stock Plunges After Revised Guidance Falls Short of Forecasts

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