Arnd Wiegmann/Reuters
Shares of Palantir surged as much as 9% on Thursday after its second-quarter earnings beat estimates.The company said it closed 62 deals worth $1 million or more, with 21 of those deals being worth more than $10 million.Palantir expects third-quarter revenue of $385 million, ahead of analyst estimates for $380 million.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Shares of Palantir surged as much as 9% on Thursday after it reported second-quarter earnings that beat analyst estimates.
The data analytics company said it closed 62 deals worth $1 million or more in the quarter, with 21 of those deals being worth more than $10 million, and 30 of those deals being worth more than $5 million.
Palantir added 20 new customers in its second quarter, with total customers up 13% sequentially, and commercial customers up 32% sequentially.
Here are the key numbers:
Revenue: $375.6 million, versus estimates of $361.1 millionAdjusted earnings per share: $0.04, versus estimates of $0.03With revenue growth of 49% year-over-year, Palantir expects the strength to continue into year-end. The company gave third-quarter revenue guidance of $385 million, ahead of analyst estimates for $380 million, and expects adjusted operating margins of 22%.
For the full year, Palantir raised its guidance for adjusted free cash flow to more than $300 million, more than double its previous estimate of $150 million. Meanwhile, the company reiterated its long-term outlook for annual revenue growth of 30% through 2025.
Finally, Palantir has continued to invest in SPAC merger transactions, as it uses the deals to help cement business contracts with emerging growth companies. The company said it has made $250 million in investment commitments to SPAC transactions during the quarter.
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Source: https://www.businessinsider.com/palantir-stock-price-2q-earnings-beat-estimates-strong-forward-guidance-2021-8
