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Palantir Stock Jumps As Earnings Beat and Outlook Shines -- Barrons.com

Dow Jones2024-11-05

By Angela Palumbo

Palantir Technologies stock was climbing after the software company posted better-than-expected third-quarter financials and increased its guidance for the year.

Palantir reported third-quarter adjusted earnings of 10 cents a share on revenue of $725.5 million. Analysts surveyed by FactSet were expecting earnings of 9 cents a share on revenue of $705 million.

In the same period last year, the company reported earnings of 7 cents a share on revenue of $558 million.

Government revenue makes up most of the company's total sales, and that rose 40% year-over-year to $320 million. Commercial revenue grew 54% from the previous year to $179 million.

Palantir also said it's raising its revenue guidance for the year to between $2.8 billion to $2.81 billion. The company previously said that it was expecting revenue for the year between $2.7 billion to $2.8 billion.

Shares of Palantir were up 13% in the after market session on Monday.

This is breaking news. Please come back for more updates and analysis.

Write to Angela Palumbo at angela.palumbo@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

November 04, 2024 16:20 ET (21:20 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Analysts surveyed by FactSet were expecting earnings of 9 cents a share on revenue of $705 million. \n\n\n     In the same period last year, the company reported earnings of 7 cents a share on revenue of $558 million. \n\n\n     Government revenue makes up most of the company's total sales, and that rose 40% year-over-year to $320 million. Commercial revenue grew 54% from the previous year to $179 million. \n\n\n     Palantir also said it's raising its revenue guidance for the year to between $2.8 billion to $2.81 billion. The company previously said that it was expecting revenue for the year between $2.7 billion to $2.8 billion. \n\n\n     Shares of Palantir were up 13% in the after market session on Monday. \n\n\n     This is breaking news. Please come back for more updates and analysis. \n\n\n     Write to Angela Palumbo at angela.palumbo@dowjones.com \n\n\n     This content was created by Barron's, which is operated by Dow Jones & Co. 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