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Market Mover | Palantir Shares Surge 12% After Q2 Earnings Release

Moomoo News ·  Aug 6 21:14  · Movers

August 6, 2024 - $PLTR.US$shares surged 12.58% to $27.12 in pre-market trading on Tuesday. The company announced its financial results for the second quarter, which ended on June 30, 2024, yesterday after the market closed.

Q2 2024 Highlights

  • Revenue grew 27% year-over-year and 7% quarter-over-quarter to $678 million.

  • Closed 27 deals over $10 million.

  • Customer count grew 41% year-over-year and 7% quarter-over-quarter.

  • GAAP net income of $134 million, representing a 20% margin.

  • GAAP income from operations of $105 million, representing a 16% margin.

  • Adjusted EPS grew 80% year-over-year to $0.09.

Q3 Outlook

  • Revenue of between $697 - $701 million.

  • Adjusted income from operations of between $233 - $237 million.

For full year 2024:

  • The company raised its revenue guidance to between $2.742 - $2.750 billion.

  • The company raised its US commercial revenue guidance to in excess of $672 million, representing a growth rate of at least 47%.

  • The company raised its adjusted income from operations guidance to between $966 - $974 million.

  • The company continue to expect adjusted free cash flow of between $800 million - $1 billion.

Related Reading: Press Release

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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