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PLTR shares surge as government sales boost Palantir’s earnings beat


Palantir technology (PLTRESS) on Monday reported fourth-quarter earnings and revenue that beat Wall Street targets. PLTR stock jumped, though its full-year 2023 revenue forecast fell short of expectations.




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For the quarter ended December 31, Palantir earnings on an adjusted basis were 4 cents, up 100% from a year earlier. Revenue rose 18 percent to $509 million, the data analytics software maker said.

Analysts had predicted earnings of 3 cents a share on revenue of $502.3 million. Denver-based Palantir said government revenue rose 23% to $293 million, compared with an estimate of 21% growth.

PLTR stock: Revenue guide light

Using generally accepted accounting principles, or GAAP, Palantir had a net income of $31 million. It marks Palantir’s first quarter with positive GAAP net income.

PLTR stock rose 12.1% to 8.53 in extended trading above stock market today.

For the current quarter ending March, Palantir forecast revenue of $505 million versus an estimate of $520 million.

For the full year of 2023, Palantir said it expects revenue between $2.18 billion and $2.23 billion. Analysts had predicted revenue of $2.29 billion.

So far, PLTR stock is up 9% in 2023 in preparation for Palantir’s earnings report.

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

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