Palantir Technologies Inc. PLTR, -15.75% grew revenue more quickly than anticipated in its latest quarter, though earnings per share fell short of expectations.
The software company on Thursday reported a fourth-quarter net loss of $156.2 million, or 8 cents a share, compared with a loss of $148.3 million, or 8 cents a share, in the year-prior quarter. After adjusting for stock-based compensation and other expenses, Palantir earned 2 cents a share, down from 3 cents a share a year earlier, while analysts tracked by FactSet were expecting 4 cents a share. Palantir’s revenue rose to $432.9 million from $322.1 million, while analysts surveyed by FactSet had been anticipating $418 million. The company saw a 47% bump in U.S. commercial revenue and a 26% increase in government revenue. Palantir added 34 net new customers during the fourth quarter. Looking to the first quarter, the company anticipates $443 million in revenue, whereas the FactSet consensus was for revenue of $439 million. The company expects a 23% adjusted operating margin for the first quarter and a 27% adjusted operating margin for the full year. Shares of Palantir have declined 40% over the past three months as the S&P 500 SPX, -2.12% has lost 5%.