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Palantir stock slides after earnings as revenue forecast falls short


Shares of Palantir Technologies Inc.

were tumbling more than 13% in premarket trading Monday after the software company posted a surprise adjusted loss on a per-share basis and delivered revenue guidance that fell short of the consensus view. The company reported a net loss of $176.7 million, or 9 cents a share, compared with a loss of $138.6 million, or 7 cents a share, in the year-earlier quarter. After adjustments, Palantir recorded a loss per share of 1 cent, whereas it logged adjusted earnings per share of 4 cents in the year-before period. Analysts tracked by FactSet were expecting 3 cents in adjusted EPS. Revenue at Palantir rose to $473.0 million from $375.6 million, while analysts were projecting $465.8 million. The company saw a 46% boost in commercial revenue and a 27% bump in U.S. government revenue. Looking to the third quarter, Palantir expects $474 million to $475 million in revenue, whereas the FactSet consensus was for $500 million. For the full year, the company anticipates $1.900 billion to $1.902 billion in revenue, whereas analysts were looking for $1.957 billion. Palantir executives said that the new forecast “excludes any new major U.S. government awards and we believe this to be the base case.”

Palantir Stock Drops as Outlook Misses Estimates and Growth Slows

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