Palantir shares fall 10% on lower-than-expected guidance
Posted: May 06, 2024
- Palantir reported stronger-than-expected revenue and EPS but issued weaker full-year guidance. - The company saw GAAP profitability for the sixth consecutive quarter. - Palantir signed a $178 million contract with the U.S. Army this year. - Revenue was $634 million, up 21% year-over-year. - Palantir expects second-quarter revenue between $649 million to $653 million and full-year revenue between $2.68 billion and $2.69 billion. - Despite success in marketing AI products, full-year guidance was weaker than expected. - Palantir conducted more than 660 bootcamps with customers in the first quarter.
Summarized top reddit comments: - PTLR shares fell 10% - New PLTR bagholders congratulated - Stock fell to yesterday's price - CNBC focused on guidance not being raised high enough - Market prices in next quarter's earnings as well as current quarter - Not all meme stocks can rocket after poor earnings
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