"When the company reported Q2 earnings on Aug. 4, it announced that revenues saw year-over-year growth of 48% and topped $1 billion in quarterly revenue for the first time ever, while U.S. government revenues rose 53% from the year-ago period to $426 million. Palantir beat on earnings with 16 cents per share versus Wall Street's expectations of 14 cents per share. The company also upped its full-year guidance, forecasting revenues between $4.142 billion and $4.150 billion, up from its previous forecast of $3.89 billion to $3.90 billion."
"While the stock's forward P/E ratio of 209.15 can be concerning, Palantir's federal contracts and aerospace ties are expected to continue fueling growth. While earnings are rear-facing, the emerging trends seen in the company's Q1 results can serve as a foundation for further rewards for shareholders. In the first quarter, Palantir saw year-over-year revenue growth of 39%. U.S. commercial business surpassed a $1 billion run rate, good for 71% year-over-year growth."
Palantir's share price has risen over 143% year-to-date and about 1,892% since its October 2022 IPO. The company secured a £1.5 billion U.K. defense deal and a consolidated 10-year U.S. Army arrangement valued at $10 billion. Q2 revenues grew 48% year-over-year and exceeded $1 billion for the first time, with U.S. government revenues up 53% to $426 million. Palantir reported 16 cents earnings per share, beating expectations, and raised full-year revenue guidance to $4.142–$4.150 billion. U.S. commercial business reached a $1 billion run rate with 71% growth. Institutional ownership has fallen to 53.76% while the forward P/E sits at 209.15.
Read at 24/7 Wall St.
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