Palantir . techniques (PLTR) on Thursday reported December quarter earnings below estimates while revenue beat Wall Street targets. PLTR stock fell as revenue guidance for the March quarter beat previous expectations.
Denver-based Palantir reported fourth-quarter earnings before the market opened. Palantir shares fell 10.6% to 12.48 in premarket trading stock market today.
PLTR stock was down 24% in 2022 heading into its earnings report.
Palantir’s earnings for the three months ended December 31 were 2 cents per share on an adjusted basis. The data analytics software maker said revenue jumped 34% to $433 million.
Meanwhile, analysts expected Palantir to earn 4 cents a share on revenue of $418 million.
PLTR Inventory: Revenue Forecast by Estimates
For the current quarter ending in March, Palantir forecast revenue of $443 million. Analysts polled by FactSet expected first-quarter revenue to be $439 million.
As the earnings report approaches, Blantyre stock has a relative strength rating of just 12 out of the top 99 possible, according to IBD stock check.
Additionally, Palantir’s earnings report comes amid the enterprise software maker’s increased investment in special purpose acquisition companies. Also, SPACs are raising money in an initial public offering for the purpose of making acquisitions.
Government agencies use Palantir for intelligence gathering, counter-terrorism, and military purposes. Additionally, the software maker aims to expand into the healthcare, energy, and manufacturing sectors.
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