Why Palantir (PLTR) Stock Is Trading Lower Today - Palantir Technologies (NYSE:PLTR)

Palantir Technologies Inc PLTR reported third-quarter FY22 revenue growth of 22% year-on-year to $477.9 million, beating the consensus of $471.3 million.
Revenue Drivers: U.S. revenue grew 31% Y/Y. U.S. commercial revenue rose 53% Y/Y. Palantir customer count grew 66% Y/Y. Government revenue grew 23% Y/Y.
Margins: The adjusted operating margin contracted 1,300 bps to 17% as the adjusted operating income declined 30% Y/Y.
Palantir held $2.43 billion in cash and equivalents and generated $36.6 million in adjusted free cash flow.
EPS of $0.01 missed the consensus of $0.02.
"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 C. Karp, Co-Founder, and CEO.
Outlook: Palantir sees Q4 revenue of $503 million - $505 million, above the consensus of $502.7 million.
Palantir reaffirmed FY22 revenue of $1.900 billion - $1.902 billion, above the consensus of $1.89 billion.
Price Action: PLTR shares traded lower by 11.80% at $7.03 on the last check Monday.

Palantir Shares Plummet As Q3 Adjusted Operating Income Declines; Reiterates Upbeat Guidance