Palantir Stock Falls After Beating Q1 Revenue, Dip In Q2 Operating Margin Guidance

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Palantir Technologies Inc (NYSE: PLTRreported first-quarter FY21 revenue growth of 49% year-on-year to $341 million, beating the analyst consensus of $332.23 million.

U.S. commercial revenue grew 72% Y/Y, and U.S. government revenue rose 83% Y/Y. Adjusted operating income was $116.6 million with a margin of 34%. GAAP operating loss was $114.01 million. Palantir clocked adjusted net income was $82.7 million, with adjusted EPS of $0.04 at par with the analyst consensus. Adjusted EBITDA of $119.8 million had a turnaround from last year.  The company generated $116.9 million in operating cash flow and held $2.3 billion in cash and equivalents.

Guidance: Palantir sees a Q2 revenue outlook of $360 million, above the analyst consensus of $344.31 million, and a dip in adjusted operating margin to 23%. It expects annual revenue growth of 30% or more from 2021 to 2025.

Price action: PLTR shares traded lower by 8.12% at $16.97 in the premarket session on the last check Tuesday.

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