Palantir Technologies Inc PLTR shares are volatile Monday morning after the company reported third-quarter financial results and reaffirmed full-year guidance.
Palantir said third-quarter revenue increased 22% year-over-year to $478 million, which beat average analyst estimates of $470.31 million, according to Benzinga Pro. U.S revenue grew 31% year-over-year, led by U.S. commercial revenue, which was up 53% year-over-year.
Palantir reported quarterly earnings of 1 cent per share, which missed average estimates of 2 cents per share.
"We beat expectations for revenue growth this quarter and expect to have a strong finish to the year, even in the face of the continued strength of the U.S. dollar," said Alexander Karp, co-founder and CEO of Palantir.
Palantir expects fourth-quarter adjusted revenue to be between $508 million and $510 million versus average estimates of $502.68 million.
Palantir reaffirmed full-year 2022 revenue guidance of $1.9 billion to $1.902 billion despite a negative $6 million currency impact since its last quarter. The company raised its full-year adjusted income outlook to a range of $384 million to $386 million.
Palantir provides organizations with solutions to manage large disparate data sets in an attempt to gain insight and drive operational outcomes.
PLTR Price Action: Palantir has a 52-week high of $18.84 and a 52-week low of $6.44.
The stock was down 1.39% at $7.82 at time of publication.
Photo: Cory Doctorow from Flickr.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
