Palantir stock pops 13% on upbeat Q4 earnings

Palantir Technologies Inc (NYSE: PLTR) is trading up in extended hours on Monday after reporting upbeat earnings for its fiscal fourth quarter.

Palantir stock up on solid future guidance

The stock is being rewarded also because the management issued strong guidance for the future.

Palantir now forecasts its revenue to fall between $612 million and $616 million in its current financial quarter - roughly in line with Street estimates. Alex Karp – its chief executive said in a letter to shareholders today:

The New York listed firm expects its U.S. commercial business to grow by at least 40% in 2024. Palantir stock has more than doubled in the trailing twelve months.

Notable figures in Palantir Q4 earnings report

• Earned $93 million versus the year-ago $33 million
• Per-share earnings also climbed from a cent to 4 cents
• Adjusted EPS printed at 8 cents as per the press release
• Revenue jumped 20% year-over-year to $608 million
• Consensus was 8 cents a share on $603 million in revenue
• U.S. commercial customer count went up 55% to 143

Palantir expects the artificial intelligence to eventually deliver a huge boost to the U.S. economy. Its CEO Karp also said on Monday:

Wall Street currently has a consensus "hold" rating on Palantir stock.