{"id":6034,"date":"2023-11-02T12:58:31","date_gmt":"2023-11-02T12:58:31","guid":{"rendered":"https:\/\/connectwithfund.com\/news\/palantir-shares-pop-17-after-its-third-quarter-results-beat-estimates\/"},"modified":"2023-11-02T12:58:33","modified_gmt":"2023-11-02T12:58:33","slug":"palantir-shares-pop-17-after-its-third-quarter-results-beat-estimates","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=6034","title":{"rendered":"Palantir shares pop 17% after its third-quarter results beat estimates"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p>Shares of <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">Palantir<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> popped 17% in premarket trading Thursday, after the company released third-quarter earnings that beat analysts&#8217; expectations and raised full-year revenue guidance.<\/p>\n<p>Here&#8217;s how the company did:<\/p>\n<ul>\n<li><strong>Earnings per share:<\/strong> 7 cents, adjusted, vs. 6 cents expected by LSEG, formerly known as Refinitiv<\/li>\n<li><strong>Revenue:<\/strong> $558 million vs. $556.1 million expected by LSEG<\/li>\n<\/ul>\n<p>Palantir&#8217;s revenue for the third quarter increased 17% to $558 million, from $478 million a year earlier. The company reported a net income of $72 million, or 3 cents per share, compared with a net loss of $123.9 million\u00a0in the year-ago quarter.<\/p>\n<p>The company&#8217;s third-quarter results mark its fourth straight quarter of profitability, which means it is eligible for inclusion in the S&amp;P 500. Palantir reported its first profitable quarter in February this year.<\/p>\n<p>Palantir said it expects to report between $599 million and $603 million in revenue during its fourth quarter and raised its revenue guidance for the full year between $2.216 billion and $2.22 billion. In its second quarter, Palantir said it expected $2.212 billion for the full year, above the midpoint of its\u00a0forecast from May.<\/p>\n<p>The company is known for its defense and intelligence work with the U.S. government, and during its quarterly call with investors, CEO Alex Karp addressed the ongoing Israel-Hamas war.<\/p>\n<p>&#8220;Palantir only supplies its products for Western allies,&#8221; Karp said. &#8220;We&#8217;ve never supplied our products to enemies; we proudly support the US government. I am proud that we are supporting Israel in every way we can.&#8221;<\/p>\n<p>Palantir&#8217;s U.S. commercial revenue grew 33% year over year. Palantir said its U.S. commercial customer count increased 37% year over year, growing from 132 customers to 181.<\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/11\/02\/palantir-pltr-q3-earnings-.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Palantir popped 17% in premarket trading Thursday, after the company released third-quarter earnings that beat analysts&#8217; expectations and raised full-year revenue guidance. Here&#8217;s how the company did: Earnings per share: 7 cents, adjusted, vs. 6 cents expected by LSEG, formerly known as Refinitiv Revenue: $558 million vs. $556.1 million expected by LSEG Palantir&#8217;s revenue for the third quarter increased 17% to $558 million, from $478 million a year earlier. The company reported a net income of $72 million, or 3 cents per share, compared with a net loss of $123.9 million\u00a0in the year-ago quarter. The company&#8217;s third-quarter results<\/p>\n","protected":false},"author":1,"featured_media":6035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-6034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Palantir shares pop 17% after its third-quarter results beat estimates | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"Shares of Palantir popped 17% in premarket trading Thursday, after the company released third-quarter earnings that beat analysts&#039; expectations and raised\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/connectwithfund.com\/?p=6034\" 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