Palantir Technologies announced weak expectations for second-quarter revenues that came below analysts’ expectations in Wall Street, which indicates a slowdown in sales growth in conjunction with the failure of the first-quarter results to achieve the level of analysts’ estimates, which pushed the company’s shares to fall by 15% during pre-trading. Market opening.
The company best known for its work with the US military and the CIA said it still expects “a wide range” of potential upside for its outlook due to “evolving geopolitical events,” but slower revenue growth from the software maker’s business with government, which grew by only 16%. During the first quarter, investors are concerned. Read More [Palantir Shares Jump and Raise Revenue Aspirations After Giant New Contracts].
Palantir expects an adjusted operating profit margin of 20% this quarter, compared to a margin of 31% a year ago, as the company will direct its focus and spending on sales forces to help close more deals, and the company expects its revenues during the second quarter to reach about $470 million, i.e. Equivalent to a growth of 25% year on year, compared to a growth rate of 49% during the same quarter a year ago, as for analysts, they expected revenue to reach $483.9 million. Read more [Palantir invests in various SPAC companies in many fields].
Palantir’s chief operating officer Shyam Sankar stated that the Ukraine war had no further impact on first-quarter results, but the company was working and investing with the expectation to benefit from the proceeds of a new contract with the government and anticipate a “margin impact” during the second quarter and greater growth over time.
Palantir raised $446.4 million in the first quarter, beating analyst expectations of $443.4 million, boosted by its U.S. business, and excluding certain post-adjusted expenses, the company earned two years per share, failing to meet expectations of 5 cents per share. A loss of two years per share due to Palantir’s investments during the quarter, and it’s worth noting that the company’s stock has been among analysts’ favorites lately. Read more [The Best Wall Street Analysts Are Interested in These Stocks].