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Palantir shares rise ahead of Q2 earnings as revenue growth outlook firms

Wall Street expects Palantir revenue to jump 80.8% year over year, after the company reported $1.63 billion in the prior quarter.

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Palantir Technologies shares moved higher on Monday ahead of the company’s second quarter earnings report, scheduled after the closing bell, with the stock up 1.52%, or $1.87, to $124.99 as of late morning EDT.

LiveMint Markets said analysts expect Palantir to post another strong quarter, projecting revenue growth of 80.8% year over year, accelerating from 48% growth in the comparable period last year.

The outlet noted that Palantir previously reported revenue of $1.63 billion, up 84.7% year over year, with results topping forecasts on stronger billings and adjusted operating income.

LiveMint Markets also highlighted that free cash flow, an increasingly important metric for AI firms, is expected to double to $1 billion, and that Palantir shares are priced at about 67 times projected earnings over the next 12 months.

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