PLTR Stock Falls As Palantir Earnings Miss, Revenue Outlook Edges By Estimates

Palantir Technologies (PLTR) reported December quarter earnings that missed estimates while revenue topped Wall Street targets. PLTR stock fell in premarket trade.

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Denver-based Palantir’s March quarter revenue guidance edged past expectations. Palantir stock fell 7.2% to 12.96 on the stock market today. PLTR stock had retreated 24% in 2022 heading into Thursday morning’s earnings report.

Palantir earnings for the three months ending Dec. 31 were 2 cents per share on an adjusted basis. Revenue jumped 34% to $433 million, the maker of data analytics software said.

Meanwhile, analysts expected Palantir earnings of 4 cents a share on revenue of $418 million.

PLTR Stock: Revenue Outlook Edges By Estimates

For the current quarter ending in March, Palantir forecast revenue of $443 million. Analysts polled by FactSet had projected first-quarter revenue of $439 million.

Heading into the earnings report, Palantir stock had a Relative Strength Rating of only 12 out of a best-possible 99, according to IBD Stock Checkup.

In addition, the Palantir earnings report comes amid the enterprise software maker’s growing investments in special purpose acquisition companies. Also, SPACs raise money in an initial public offering with the purpose of making acquisitions.

Government agencies use Palantir software for intelligence gathering, counterterrorism and military purposes. In addition, the software maker aims to expand into the health care, energy and manufacturing sectors.

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Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.

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