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Palantir Technologies Swings to Q1 Profit, Revenue Grows

05/11/2021 03:33

07:23 AM EDT, 05/11/2021 (MT Newswires) -- Palantir Technologies (PLTR) said Tuesday that it swung to Q1 adjusted earnings of $0.04 per share from an adjusted loss of $0.01 per share a year earlier.

Analysts polled by Capital IQ projected adjusted EPS of $0.04.

Revenue was $341.2 million, up from $229.3 million a year ago. The Street forecast was $332.3 million.

Looking ahead, the company expects Q2 revenue of $360 million, compared with the consensus estimate of $342.9 million.

For full year 2021, adjusted free cash flow is projected to be more than $150 million. Meanwhile, the company also continues to expect annual revenue growth of 30% or greater for 2021 through 2025.

Shares of the software company were down more than 7% ahead of Tuesday's market open.

Price: 17.29, Change: -1.19, Percent Change: -6.44