Palantir Tech Stock Soars - Clock Strong Q3 Performance On Commercial and Government Growth
Portfolio Pulse from Anusuya Lahiri
Palantir Technologies reported a 17% YoY revenue growth in Q3 to $558.16 million, beating consensus estimates. The company also reported its fourth consecutive quarter of GAAP profitability. Commercial revenue grew 23% YoY, with U.S. commercial revenue increasing 33% YoY. Government revenue climbed 12% YoY. The company ended the quarter with $3.3 billion in cash, equivalents, and short-term U.S. treasury securities. Palantir raised its FY23 revenue guidance to $2.216 billion - $2.220 billion.
November 02, 2023 | 1:18 pm
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POSITIVE IMPACT
Palantir's strong Q3 performance and raised FY23 revenue guidance could boost investor confidence and potentially drive the stock price up in the short term.
Palantir's Q3 results exceeded estimates, with significant YoY revenue growth and a fourth consecutive quarter of GAAP profitability. The company also raised its FY23 revenue guidance, which could be seen as a positive signal about its future performance. These factors could increase investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100