A banner with the logo of Palantir Technologies (PLTR) is seen at the New York Stock Exchange (NYSE) on the day of their initial public offering (IPO) in Manhattan, New York City, US, September 30, 2020.
Andrew Kelly | reuters
shares of Palantir popped more than 14% in extended trading on Monday after the company issued fourth quarter earnings It beat analysts’ estimates at the top and bottom line.
Here’s how the company did:
- EPS: Adjusted 4 cents versus 3 cents expected by analysts, according to Refinitiv.
- Income: $509 million versus the $502 million expected by analysts, according to Refinitiv.
Palantir’s revenue grew 18% year over year for the quarter, and its US commercial revenue grew 12%. The software company, best known for its work with the government, said the number of its US commercial customers grew 79% year over year, from 80 customers to 143.
The company reported positive net income in its first quarter on a GAAP basis of $31 million.
“With this result, Palantir is profitable,” CEO Alex Karp said in the release, “This is an important moment for us and our supporters.”
Palantir said it expects to report between $503 million and $507 million in revenue during its first quarter.
The company will hold its quarterly call with investors on Monday at 5:00 p.m. ET.