Palantir stock down on weak revenue guidance, earnings miss
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Alex Karp (CEO Palantir Technologies) arrives at “Tech for Good”, Summit in Paris, France on May 15, 2019.
Charles Platiau | Reuters
The shares of PalantirOn Monday, the stock plummeted more than 21% after the company published a less-than-expected revenue outlook. The bottom line was also missing. first-quarter results.
These are the main numbers
- Earnings per shareAccording to an analyst survey by Refinitiv, 2 cents were adjusted and 4 cents anticipated
- Revenue: $446 million vs $443 million expected, per Refinitiv
According to FactSet, Palantir expects revenue of $470 million for the current quarter. This is lower than analyst estimates of $483.7million. Palantir, a software company well-known for working with government agencies, stated that there are “large potential upsides” in its guidance, “including those driven primarily by our involvement in responding to geopolitical developments.”
The net loss for the quarter was $101.38million, which is an increase from the 156.19 million reported in the fourth quarter 2021.
It expects an adjusted operating margin (Adjusted Operating Margin) of 27% for the full year 2022. In 2025, it expects an increase of at least 30% in its annual revenue.
Quarterly revenue rose 31% over the previous year, to $446 millions. Comparing to the previous quarter, commercial revenue was up 54% while government revenues were up 16%. The number of customers increased by 86% over the previous year.
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