{"id":9916,"date":"2023-08-07T21:06:50","date_gmt":"2023-08-07T21:06:50","guid":{"rendered":"https:\/\/isafespend.com\/news\/palantir-reports-13-revenue-growth-issues-guidance-that-tops-estimates\/"},"modified":"2023-08-07T21:06:51","modified_gmt":"2023-08-07T21:06:51","slug":"palantir-reports-13-revenue-growth-issues-guidance-that-tops-estimates","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=9916","title":{"rendered":"Palantir reports 13% revenue growth, issues guidance that tops estimates"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Palantir<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> reported a 13% increase in second-quarter revenue on Monday and issued a forecast for the current period that topped analysts&#8217; estimates. Investors pushed up shares as much as 3% in extended trading.<\/p>\n<p>Here&#8217;s how the company did:<\/p>\n<ul>\n<li><strong>Earnings:<\/strong> 5 cents per share, adjusted, vs. 5 cents per share as expected by analysts, according to Refinitiv.<\/li>\n<li><strong>Revenue:<\/strong> $533 million, vs. $533 million as expected by analysts, according to Refinitiv.<\/li>\n<\/ul>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>&#8220;We anticipate that we will become eligible for inclusion in the S&amp;P 500 after we report our financial results for Q3 2023 in early November,&#8221; CEO Alex Karp wrote in a letter to shareholders. &#8220;At that point, we will have been profitable on a cumulative basis over the preceding four quarters.&#8221;<\/p>\n<p>Palantir lifted its forecast for adjusted income from operations for year to over $576 million, compared with a range of $506 million to $556 million as of May.<\/p>\n<p>The company said its board approved a buyback program of up to $1 billion.<\/p>\n<p>Government revenue accounted for 57% of total sales. During the quarter Palantir announced a contract from the U.S. Special Operations Command that could be worth up to $463 million. The company&#8217;s fastest area of growth was international government revenue, which increased 31% to $76 million.<\/p>\n<p>Prior to the after-hours move, the value of Palantir shares had climbed 177% so far this year, compared with a rise of 17% for the S&amp;P 500 index over the same period.<\/p>\n<p>Executives will discuss the results on a conference call starting at 5 p.m. ET.<\/p>\n<p><strong>This is breaking news. Please check back for updates.<\/strong><\/p>\n<p><strong>WATCH:<\/strong> Google, Palantir and Meta are great companies to ride the A.I. wave: Deepwater Asset&#8217;s Gene Munster<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-107252009\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107252009\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000302396\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><span class=\"InlineVideo-videoButton\"><\/span><span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/08\/07\/palantir-pltr-q2-earnings-report-2023.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Palantir reported a 13% increase in second-quarter revenue on Monday and issued a forecast for the current period that topped analysts&#8217; estimates. Investors pushed up shares as much as 3% in extended trading. Here&#8217;s how the company did: Earnings: 5 cents per share, adjusted, vs. 5 cents per share as expected by analysts, according to<\/p>\n","protected":false},"author":1,"featured_media":9917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-9916","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Palantir reports 13% revenue growth, issues guidance that tops estimates | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Palantir reported a 13% increase in second-quarter revenue on Monday and issued a forecast for the current period that topped analysts&#039; estimates.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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