Hey guys, I have some great news about Palantir Technologies’ stock (PLTR)! They just released an amazing earnings report and crushed both revenue and earnings per share expectations! Their revenue rose by a whopping 18% year-over-year to $509 million, while their EPS of $0.04 beat projections by $0.01! Plus, Palantir managed to become profitable on a GAAP basis, earning $0.01 per share or $31 million on a company-wide basis — this was their first GAAP profitable quarter ever! And get this, Palantir expects 2023 to be its first profitable year as the company benefits from cost cuts and the artificial intelligence boom. The company has been reducing employee stock-based compensation and cutting back on cloud expenditure, and they’ve slowed hiring to cut expenses. And despite concerns about share-based compensation, the spending has slowed down drastically in recent months. And the good news doesn’t stop there! Palantir’s revenue growth rate in 2022 was fantastic, and they’ve clinched more defense business following Russia’s war with Ukraine, selling software to visualize an army’s positions and help enterprises vet their supply chains or reduce costs. Plus, with a net cash position of $2.6 billion, Palantir’s sales multiple declines to around 7.5, which is between that of Apple (6x) and Microsoft (9x). The guidance for this year may have come in below expectations, but that doesn’t mean we should count them out. Based on the current after-hours price of $9.20, Palantir is valued at $19 billion, which might be justified if Palantir continues to grow its business at an attractive pace for years while also benefitting from further margin expansion. I liked Palantir stock better at $7, but with the broad market sentiment remaining healthy, The PLTR stock could climb even higher in the future. So, keep an eye on this one, folks!
#palantir #pltr #palantirtechnologies
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Disclosure: This video was done by myself, and it expresses my own opinions. This is not investment advice or financial advice and it should not be taken as investment advice or financial advice in any way shape or form. I am not receiving any form of compensation for this video from the company or organization that I am expressing opinions about. This video is for entertainment and or educational purposes only.
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