Connect with us

The True Herald


Palantirs stock drops after surprise loss, although revenue beat expectations – MarketWatch

Spread the love

Spread the love

Shares of Palantir Technologies Inc.

dropped 6.3% in premarket trading Tuesday, after the data integration and software company reported a surprise fourth-quarter loss, although revenue rose more than forecast. The company reported a net loss that narrowed to $148.3 million, or 8 cents a share, from $159.3 million, or 29 cents a share, in the year-ago period. The company said its losses included $241.8 million in stock-based compensation and $18.9 million in employer payroll taxes. The FactSet consensus was for a profit of 2 cents a share. Revenue rose 40.4% to $322.1 million, beating the FactSet consensus of $300.7 million. Palantir expects first-quarter revenue growth of 45% and 2021 revenue to rise “greater than” 30%. The FactSet consensus for 2021 revenue of $1.41 billion implies 29% growth. Palantir’s stock has doubled (up 100.3%) over the past three months through Friday, while the S&P 500

has gained 8.5%.

Support Our News Campaign

Shop our Store

Click Here To Shop

Subscribe to the newsletter news

We hate SPAM and promise to keep your email address safe

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Top Stories

Trending Stories

To Top