Palantir Raises Annual Revenue Forecast, Q2 Revenue Soars 93%
PLTR sits 27% above its 52-week low of $106.37.
Summary
Palantir Technologies Inc. reported Q2 results with revenue up 93% to $1.94B and EPS of $0.41 versus $0.35 expected. The company raised its full-year revenue forecast to $8.15B-$8.16B, up from $7.65B-$7.66B, and guided Q3 revenue well above consensus. U.S. commercial revenue outlook was also lifted to over $3.42B. Shares jumped 8% after hours. This follows a turbulent period with European contract losses and a 52-week low in June, making the strong demand from U.S. government and commercial clients a sharp reversal. The Nvidia partnership announced in late June may be contributing to the commercial acceleration.
Updates
· Reuters — Shares jumped 15% in European trading, recovering from a June 52-week low of $106.38 to above $144.
At the time of this announcement, PLTR was trading at $135.45 on NASDAQ in the Technology sector, with a market capitalization of approximately $301.2B. The 52-week trading range was $106.37 to $207.52. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.