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Palantir Shares Sink As Company Raises Guidance

Palantir reports its first earnings as a public company.

Video Transcript

- Jared, we also got Palantir. And market seems to be punishing Palantir, even though there was some really good signals in the report.

- Yeah, and it's been kind of volatile. I've seen it down as much as 7% and up as much as 4%. Now it did miss on profits. And in fact, it came out with a loss. The expectation was they would have a earnings per share on an adjusted basis of about 3 cents. And instead, they came up with a loss per share of 94 cents. And that may or may not be comparable to street estimates, not sure if that's on adjusted basis. But they did have a loss when there was profit expected.

So looking at revenue though, revenue was a beat. And also, their guidance came in a little bit ahead of expectations. So they're seeing full year revenue of $1.07 billion to $1.072 billion. Previously it was $1.07 to $1.06. So a little bit of an improvement there. They're also seeing fourth quarter revenue at $299 million to $309 million. Estimate was for a little bit lower at $296 million.

And also, seeing their full year adjusted operating profit now at $130 million to $136 million. So they are expecting to swing into the green for the fourth quarter. But didn't manage to do that for the current one. I'm looking at the shares now. Stock is down about-- well, now it's only 3.9% in after hours trading. Adam.