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Palantir: strong quarter but expectations were high

Palantir has delivered a strong set of numbers, but shares have dipped as expectations running into results were extremely high.
Palantir Technologies.jpg

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Palantir reported first quarter revenue of $884mn ($863mn expected), up 39% year-over-year and 7% quarter-over-quarter. Performance was driven by its US businesses, both commercial and government.

Underlying operating income rose 73% to $391mn. Free cash flow more than doubled to $304mn and net cash, including leases, was £5.2bn at period end.

For the coming quarter, Palantir expects revenue to land between $934-938mn, with underlying operating income of $401-405mn. For the full year, revenue is now expected around $3.9bn (previously $3.75bn), with underlying operating income of around $1.7bn.

The shares fell 9.3% in after-hours trading.

Our view

HL view to follow.

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 Refinitiv. 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.

This article is not advice or a recommendation to buy, sell or hold any investment.No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication.Non - independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place(including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing.Please see our full non - independent research disclosure for more information.
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Written by
Matt-Britzman
Matt Britzman
Senior Equity Analyst

Matt is a Senior Equity Analyst on the share research team, providing up-to-date research and analysis on individual companies and wider sectors. He is a CFA Charterholder and also holds the Investment Management Certificate.

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Article history
Published: 6th May 2025