Palantir stock up after better-than-expected quarterly earnings
For the quarter ended in September, Palantir reported revenue of $289 million, topping the $279.3 million expected. In the quarter, the revenue grew by 52%.
On the other hand, Palantir reported a loss of 94 cents per share. During the same time last year, the loss came in at 24 cents per share.
The Palo Alto-based company reported an operating income of $73.1 million. During the quarter, Palantir said that it had closed “fifteen deals with new and existing customers, each worth $5 million or more in total contract value, including contracts with the U.S. Army and National Institutes of Health, as well as a contract renewal with one of the world’s largest aerospace companies worth $300 million in total contract value over five years.”
For the future, Palantir expects its revenue to reach $300 million, while the market is looking for $296 million.
Following the news, the company’s stock price went up 2.3%.
Read more about Palantir here!
Sources: finance.yahoo.com, investors.com