Why Palantir Stock Is Plummeting Today
Palantir (NASDAQ: PLTR) stock is getting hit with big sell-offs in Tuesday's trading after the company's first-quarter earnings release yesterday. The company's share price was down 13.7% as of 10:30 a.m. ET.
Palantir published its Q1 results after the market closed yesterday and delivered a profit that was in line with Wall Street's expectations and sales that beat the average forecast. The company also raised its full-year performance targets, but the stock is pulling back because the new forecasts fell short of some higher-end expectations.
For Q1, Palantir posted non-GAAP (adjusted) earnings per share of $0.13 on sales of $884 million. The company's profit was in line with the average analyst estimate, and revenue came in significantly ahead of Wall Street's target for sales of $863 million.
Source Fool.com