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The American software company Palantir Technologies (NYSE: PLTR) reported an upside surprise to their Q4 results after the bell last night. In response, the stock jumped almost 20% in the extended trading session on Monday after the firm projects profitability in 2023 boost for investors and beat earnings and revenue estimates for its fourth-quarter results.
Palantir's revenue increased by 18%, to $509 million, this beat analysts’ expectations of $505 million. The data analytics company's commercial revenue increased by 11% year-on-year and government revenue rose by 23%. The company’s adjusted operating margin was 22% in the fourth quarter, higher than analyst estimates of 15.75%. Looking forward to the whole year, the software firm expects 2023 to be its first profitable year as the maker of data analytics software benefits from cost cuts and the artificial intelligence boom.
Read more - https://gulfbrokers.com/en/palantir-stock-soars-20-after-surprise-q4-earnings-beat
- Earnings per share: $0.04 vs. $0.03 expected
- Revenue: $509 million vs. $505 million expected
Palantir's revenue increased by 18%, to $509 million, this beat analysts’ expectations of $505 million. The data analytics company's commercial revenue increased by 11% year-on-year and government revenue rose by 23%. The company’s adjusted operating margin was 22% in the fourth quarter, higher than analyst estimates of 15.75%. Looking forward to the whole year, the software firm expects 2023 to be its first profitable year as the maker of data analytics software benefits from cost cuts and the artificial intelligence boom.
$PLTR technical outlook
The Palantir stock closed at $7.60 on Monday's regular trading but the stock increased as high as $9.30 in after-hours trading after the earnings announcement. However, the stock is still down nearly 40% over the past 12 months. In the long term, watch for monthly closing above $11.60 or below the $7 area, which will give a larger confirmation of direction in the long term.Read more - https://gulfbrokers.com/en/palantir-stock-soars-20-after-surprise-q4-earnings-beat