Palantir Technologies Posts Loss in Second Quarter
August 10, 2022
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Palantir Technologies ($NYSE:PLTR), a software company specializing in data analysis, posted a loss in its second quarter. According to the company’s press release, Palantir’s non-GAAP EPS of -$0.01 missed analyst estimates by $0.04. Revenue of $473.01M also fell short of expectations, though by a smaller margin of $1.29M. It is not yet clear how this quarter’s results will affect Palantir’s market and earnings in the long term.
However, the company’s stock price fell sharply in after-hours trading following the release of the earnings report.
Palantir Technologies, a data mining and analytics company, posted a loss in its second quarter. Following the news, the stock opened at $9.8 and closed at $9.8. Most media outlets have given mixed reviews of the company.
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Palantir Technologies, a data mining and analysis company, posted a loss in its second quarter. The company blamed the loss on investments it made in the first half of the year, including hiring more staff, expanding its sales and marketing efforts, and investing in new product development. Despite the loss, Palantir remains confident in its long-term prospects. The company’s products are used by a growing number of government and commercial customers, and its revenues are expected to grow significantly in the coming years. Investors who are bullish on Palantir’s prospects may believe that the stock is undervalued at current levels. The company’s products are in high demand and its revenues are expected to grow rapidly in the future.
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