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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Add This Stock to My Watchlist Chris Markoch, Guest
MarketBeat Contributor, MarketBeat
Chris Markoch is a freelance financial copywriter with over five years of experience covering various aspects of the financial markets. You may find his writing a little different than other stock articles you’ve read. And that’s OK with him. Chris doesn’t have a traditional finance background. What he does bring to the table is a strong business and marketing background having worked for agencies that serviced Fortune 500 companies. With that in mind, he isn’t overly impressed with what companies say, and more focused on what they do. And because buyer behavior dictates so much of what happens with a stock, Chris always keeps the end consumer close in mind. Chris has been writing for MarketBeat since 2018.
Thomas Hughes, Guest
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Thomas got his start with the markets while working as a Chef. In 2005 a chance invitation to attend the seminar “How To Buy And Sell Your Own Stocks” altered his worldview. Soon trading and stocks consumed his every waking moment to the point of excluding all else. Thomas now enjoys a much different lifestyle engaged in his true passion, uncovering great investments.
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