© Reuters. Palantir (PLTR) soars 15% on strong Q4 revenue and upbeat guidance
Shares of Palantir (NYSE:) popped more than 15% in after-hours trading Monday after the company reported better-than-expected fourth-quarter revenue.
The software firm posted Q4 earnings per share (EPS) of $0.08, in line with the consensus estimates. Revenue came in at $608.4 million, while analysts were looking for $602.86 million.
GAAP net income stood at $93 million in the quarter, representing a 15% margin.
The company reported a significant increase in its commercial revenue, which saw a growth of 32% on a year-over-year basis and a 13% rise compared to the previous quarter, amounting to $284 million.
Similarly, government revenue experienced an increase, growing by 11% year-over-year and 5% quarter-over-quarter to reach $324 million. Further, the company’s customer base expanded substantially, with a 35% growth in customer count over the past year.
Palantir generated $301 million in cash from operations, which represents a 50% profit margin. Its adjusted free cash flow stood at $305 million, while the company’s holdings in cash, cash equivalents, and short-term US treasury securities amounted to $3.7 billion.
Looking ahead, Palantir expects Q1 2024 revenue in the range of $612 million to $616 million, compared to $617.2 million expected by analysts.
Adjusted income from operations is anticipated to land between $196 million and $200 million,
For the full fiscal 2024, the software maker’s revenue is estimated to range between $2.65 billion and $2.68 billion, versus the consensus projection of $2.66 billion.
This story originally appeared on Investing
