Palantir's Q3 revenue up 22% to $478 million
Palantir Technologies Inc. announced on Monday that its revenue in the third quarter saw an annual rise of 22% to hit $478 million. On the other hand, the company reported a loss from operations of $62 million, a worsening of 13% compared to the same period in 2021. It also recorded a net loss of $123.8 million. Meanwhile, its diluted losses per share went from $0.05 per share observed in the third trimester last year to a loss per share of $0.06 per share.
"We beat expectations for revenue growth this quarter and expect to have a strong finish to the year, even in the face of the continued strength of the US dollar," Palantir Chief Executive Officer (CEO) Alexander C. Karp commented.
Following the release of the report, Palantir's shares fell by 1.64% in premarket trading.