Posted on by

Palantir reports 13% revenue growth, issues guidance that tops estimates



Share

Alex Karp, CEO of Palantir Technologies, leaves a morning session at the Allen & Company Sun Valley Conference in Sun Valley, Idaho, on July 13, 2023.Kevin Dietsch | Getty ImagesPalantir reported a 13% increase in second-quarter revenue on Monday and issued a forecast for the current period that topped analysts’ estimates. Investors pushed up shares as much as 3% in extended trading.Here’s how the company did:EPS: 5 cents, adjusted, vs. 5 cents as expected by analysts, according to Refinitiv.Revenue: $533 million vs. $533 million expected by analysts, according to Refinitiv.Palantir reported $28 million, or 1 cent per share, in net income, compared with a net loss of $179 million, or 9 cents per share, in the year-ago quarter.The data-analytics company said third-quarter revenue will likely be between $553 million and $557 million, ahead of the $552 million expected by analysts. The midpoint of the guidance implies 16% growth, a sequential acceleration after three years of gradual deceleration.Management reiterated expectations for net income in the third and fourth quarters and called for full-year revenue of over $2.212 billion, above the midpoint of its forecast from May. Analysts polled by Refinitiv had expected $2.209 billion.”We anticipate that we will become eligible for inclusion in the S& …

Read More