• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Software Company Palantir’s Third Quarter Results Surpasses Estimates For Revenue But Misses For Earnings

Ibhadojemu Emmanuel by Ibhadojemu Emmanuel
November 8, 2022
in Uncategorised
Share on FacebookShare on Twitter

Shares of software company Palantir were down more than 11 percent on Monday’s close after the company reported its earnings results for the third quarter. Although the company surpassed the estimate on revenue, it failed to meet the expectations that analysts had for earnings. 

The company reported adjusted earnings per share of $0.01 in the third quarter, below the expectation of $0.02 that analysts had, according to Refinitiv. Third-quarter revenue came in at $478 million, beating the expectation of $470 million that analysts had, according to Refinitiv. 

Palantir’s third-quarter revenue was up 22 percent year over year, while its US commercial revenue was up 53 percent. The company added that its US commercial customer count went up 124 percent year over year, from 59 to 132. Palantir is mostly known for its work with the government. 

CEO Alex Karp said that Palantir is in the “early stages of a significant transformation,” in a letter to shareholders. He also said that the company anticipates regional markets within the US becoming billion-dollar businesses. He also added that the same cannot be said for Europe as countries in the continent have shown less willingness to introduce “software systems that challenge existing habits.”

“We have found that large institutions in the United States have been far more willing to investigate the most significant sources of systemic dysfunction within their organizations, which in the current moment often relate to the ability or rather inability of an institution to metabolize its own data,” CEO Alex Karp said.

The company expects revenue for the fourth quarter to come in between $503 million and $505 million, while analysts expect fourth-quarter revenue of $503 million, according to StreetAccount. 

“We are building the digital infrastructure that makes continued industrial progress in late capitalism possible. The metaverse and other idiosyncratic pursuits of the technocratic elite may be luxury goods. But foundational data platforms are not,­­­” Palantir said in its letter to investors. 

Related Posts:

  • Software Technology Company Palantir Reports Second Quarter Earnings
    Software Technology Company Palantir Reports Second…
  • Pinterest Reports Impressive Quarterly Results, The Positive Sign Needed By Investors
    Pinterest Reports Impressive Quarterly Results, The…
  • lenovo-yoga-book-feature-awesome-specs-android
    Apple Reports Impressive Fiscal Third Quarter…
  • Killings By Police March
    eBay Reports Better-than-expected Third Quarter…
  • Zoom’s Fiscal Second Quarter Revenue Falls Below…
  • Cisco Reports Fiscal Fourth Quarter Earnings Results, Issues Better-than-expected Guidance For Its Full 2023 Fiscal Year
    Cisco Reports Fiscal Fourth Quarter Earnings…
  • Salesforce Reports Impressive Quarterly Results Alongside Weak Guidance For The Current Quarter And The Fiscal Full Year
    Salesforce Reports Impressive Quarterly Results…
  • DocuSign Shares Decline After The Company Reports…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Ibhadojemu Emmanuel

Ibhadojemu Emmanuel

Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • NCC Requires Telecoms to Compensate for 24-Hour+ Outages May 26, 2025
    • Vietnam Will Soon block Telegram, App Owners are Surprised May 24, 2025
    • Widespread Downtime Reported By X Users May 24, 2025
    • MongoDB Enters Africa Through Nigeria Targeting $100B Digital Market May 24, 2025
    • Meta Quest’s Headgear Will Soon Support 3D Instagram Images May 24, 2025
    • Mozilla To Shut Down Pocket To Concentrate On Firefox May 24, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok