Palantir Stock Falls as Contract Growth Slows and Long-Term RPO Declines
Photo: The Crypto Basic
Palantir Technologies (NASDAQ: PLTR) shares were quoted nearly 8% lower early Tuesday after the company’s third-quarter earnings, released after Monday’s market close, showed slower growth in newly signed contract value and a decline in long-term remaining performance obligations despite revenue rising 96%. The stock traded near $164.15 at 08:00 a.m. ET, approximately 8% below Monday’s closing price, according to Yahoo Finance. Palantir reported quarterly revenue of $2.313 billion and adjusted earnings of $0.44 per share, both exceeding analysts’ expectations. However, total contract value (TCV) grew just 6% YoY to $2.918 billion, versus 49% growth in the second quarter. U.S.
Source: The Crypto Basic
