The meme coin reckoning has come

Memeinated animation

Next 100x presale starting soon


Palantir shares opened 15% down on Monday: what happened?

on Aug 8, 2022
  • Palantir Technologies swung to an adjusted per-share loss in Q2.
  • The data analytics firm also disappointed on the guidance front.
  • Palantir shares opened nearly 15% down on Monday morning.

Follow Invezz on Telegram, Twitter, and Google News for instant updates >

Shares of Palantir Technologies Inc (NYSE: PLTR) opened nearly 15% down on Monday after the data analytics company reported an unexpected loss (adjusted) for its fiscal second quarter.

Palantir Q2 earnings snapshot

Copy link to section
  • Lost $176.7 million versus the year-ago $138.6 million
  • Per-share loss of 9 cents was worse than last year’s 7 cents
  • Swung to an adjusted per-share loss of one cent
  • Revenue jumped 26% year-over-year to $473 million
  • Consensus was 3 cents of EPS on $465.8 million in revenue
  • Free cash flow (adj) of $314 million represented an 18% margin
  • Commercial and U.S. government revenues were up 46% and 27%

CFO David Glazer attributed the weakness in numbers to “investments and marketable securities”. Stronger dollar also weighed on international business, he added. Palantir shares are now down nearly 50% for the year.

Other notable figures in Palantir Q2 report

Copy link to section

Other notable figures if the earnings report include commercial and U.S. government revenues that went up 46% and 27%, respectively. In the letter to shareholders, CEO Alexander Karp said:

We’re working towards a future where all large institutions in the United States and its allies abroad are running significant segments of their operations, if not their operations as a whole, on Palantir.

Wall Street, though, has a consensus “hold” rating on the stock; something to consider before buying Palantir shares.

Palantir shares slid on weak guidance

Copy link to section

For the full financial year, Palantir Technologies now forecasts up to $1.902 billion in revenue, including $475 million it expects this quarter. In comparison, analysts had called for $500 million in Q3 and $1.957 billion for fiscal 2022 as a whole. The earnings press release reads:

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

This revised guidance excludes any new major U.S. government awards and we believe this to be the base case.


Copy expert traders easily with eToro. Invest in stocks like Tesla & Apple. Instantly trade ETFs like FTSE 100 & S&P 500. Sign-up in minutes.


77% of retail CFD accounts lose money.