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.
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