Palantir (PLTR) Q3 Revenues Beat; Raises FY Revenue Outlook
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Palantir (NYSE: PLTR) reported Q3 EPS of ($0.94), which does not compare to the analyst estimate of $0.02. Revenue for the quarter rose 52% to $289.4 million versus the consensus estimate of $279.36 million.
New contracts in third quarter include U.S. Army ($91 million), National Institutes of Health ($36 million), and $300 million renewal with aerospace customer.
Palantir sees FY2020 revenue of $1.07-1.072 million, versus the consensus of $1.06 million.
Palantir sees Q4 2020 revenue of $299-301 million, versus the consensus of $296.03 million.
"Our growth and momentum across the business have continued.
We generated $289.4 million in revenue in the third quarter of 2020, representing an increase of 52% from the third quarter of 2019, when we generated $190.5 million in revenue.
The demand for our software has increased steadily over the past year in the face of significant economic and geopolitical uncertainty in the United States and abroad.
We are increasing our guidance for our full-year revenue in 2020 to a range of $1.070 billion to $1.072 billion, which would represent a growth rate of 44% over the prior year, when we generated $743 million in revenue."
For earnings history and earnings-related data on Palantir (PLTR) click here.
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