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T 16.82 (-2.94%)

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GE 139.07 (+0.41%)

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MarketBeat TV

Palantir Stock Continues to Silence Skeptics

Palantir Stock Continues to Silence Skeptics

Palantir Technologies Inc. NYSE: PLTR stock is up 20% in after-hours and pre-market trading after a strong earnings report. The company reported after the closing bell on February 5 and delivered several highlights.

The company delivered earnings per share (EPS) of eight cents on revenue of $608 million. The EPS was in line with analysts' estimates, and revenue exceeded the $603 million forecast. It was also a 20% year-over-year (YOY) increase. The company's operating margins jumped from 29% to 34%.

What seems to have investors particularly excited is the company's forward guidance. For example, the company is guiding for $2.65 to $2.66 billion in full-year revenue for 2024. The midpoint of that guidance would be another 20% YOY gain.

Furthermore, the company expects to generate adjusted free cash flow between $800 million and $1 billion. To put that into perspective, the company generated $305 million in adjusted free cash flow in the current quarter. Its cash balance increased to $3.7 billion from $3.3 billion in the previous quarter.

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