PLTR stock falls on second-quarter earnings, weak revenue outlook

Palantir . techniques (PLTR) On Monday, it reported June quarter earnings that missed views while revenue weighed on Wall Street targets. PLTR stock fell as revenue guidance missed expectations.

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Denver-based Palantir reported second-quarter earnings before the market opened. Palantir stock fell 14.7% to 10.33 in early trading on stock market today.

In Palantir’s earnings report for the three months ending June 30, the software maker said it lost 1 cent per share on an adjusted basis.

The data analytics software maker said revenue rose 26 percent to $473 million.

Meanwhile, analysts expected Palantir Inc. to earn 3 cents a share on revenue of $469.1 million.

In the June quarter, the company said, commercial revenue rose 46% while government revenue jumped 27%.

PLTR Inventory: Revenue Forecast Mistakes

For the current quarter ending in September, Palantir forecast revenue of $474.5 million midway through the guideline. Analysts polled by FactSet expected third-quarter revenue to be $503 million.

PLTR stock is down about 37% in 2022, but is up significantly from 6.44 on May 12.

As Palantir’s earnings report approaches, the software stock has a relative strength rating of just 25 out of the top 99 possible, according to IBD stock check.

Palantir is used by government agencies 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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