AI and Semiconductor Stocks Were Dragged Down in Morning Trading After Palantir’s News; SoundHound AI and Youdao Fell Over 4%
Tiger Newspress2023-08-08
AI and semiconductor stocks were dragged down in morning trading after Palantir’s news; SoundHound AI Inc and Youdao fell over 4%.
Palantir reported second-quarter earnings and revenue in line with the consensus estimates. On a GAAP basis, the company reported profitability for a third straight quarter.
The company also raised the mid-point of full-year revenue guidance, calling for top-line excess of $2.212 billion, compared to the previous outlook of $2.185 billion to $2.235 billion. It also raised the operating income guidance from $506 million-$556 million to $576 million. The company also issued above-consensus third-quarter guidance.
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