Palantir Technologies Inc (PLTR)

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Palantir Q4 results top estimates amid new contract wins
By: Investing.com | February 13, 2023

Palantir reported fourth-quarter results that beat on both the top and bottom lines as a ramp-up in customers bolstered performance.

Palantir Technologies (NYSE:PLTR) was up more than 16% in after-hours trading following the report.

The company reported EPS of $0.04 on revenue of $509.0 million, topping Wall Street estimates for EPS of $0.03 on revenue of $503.1M.

The increase in revenue was led by new contract wins as the company's efforts to increase commercial revenue appear to be bearing fruit.

Commercial revenue grew 11% year-over-year to $215M, while government revenue grew 23% year-over-year to $293M.

Customer count jumped 55% year-over-year, with U.S. commercial customer count increasing 79% year-over-year to 143 customers in Q4.

Looking ahead to the first quarter, the company guided revenue of between $503M and $507M, slightly below Wall Street estimates of $520.28M

For full-year 2023, revenue is expected in a range of $2.18 billion to $2.23B, compared with consensus of $2.29B.

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