Palantir reported first quarter revenue of $1.63bn ($1.54bn expected), up 85% year-over-year and 16% quarter-over-quarter. Performance was driven by its US businesses, with commercial revenue up 133% and government revenue up 84%.
Underlying operating income more than doubled to $984mn ($862mn expected). Underlying free cash flow was $925mn and net cash, including leases, was $7.8bn at period end.
For the coming quarter, Palantir expects revenue of around $1.8bn ($1.7bn expected), with underlying operating income of around $1.1bn. For the full year, revenue is now expected around $7.7bn (previously: $7.2bn), with underlying operating income of around $4.4bn.
The shares were down 2.2% in pre-market trading.
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Palantir key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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