- Palantir’s (PLTR, 7.02) revenue increased to $477.9M from $392.1M, exceeding analysts' expectations of $474.7M. According to the firm, Palantir's most recent period saw a 22% growth rate, which was slower than both the second and third quarters of the previous year.
- Compared to the prior quarter, the company's net loss increased to $123.9M, or 6 cents per share, from the previous quarter's net loss of $102.1M, or 5 cents per share. Analysts had predicted 2 cents in earnings per share from Palantir, but it actually reported 1 cent.
- Additionally, the business produced adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) of $87.2M, down from $119.2M a year earlier.
Why it matters
As experts and investors noted certain red flags in the company's most recent financial results, including a slowdown in sales growth and a decline in earnings compared to the same period last year, shares of the data software tumbled 12% after the company released its reports.
