Palantir Technologies (NYSE:PLTR) is scheduled to announce Q1 earnings results on Monday, May 8th, after market close.
The consensus EPS Estimate is $0.04 (vs. $0.02 last year) and the consensus Revenue Estimate is $505.94M (+13.4% Y/Y).
Over the last 2 years, PLTR has beaten EPS estimates 50% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 4 upward revisions and 3 downward. Revenue estimates have seen 1 upward revision and 7 downward.
The data intelligence software company in mid February reported Q4 2022 results that beat estimates on both top- and bottom-line. The company also forecasted 2023 to be its first year of profitability, sending its shares higher by more than 20%.
"Palantir achieved its first-ever GAAP profit in Q4'22, and I am looking forward to seeing the company move towards sustainable operating profitability in FY 2023," Seeking Alpha contributor the Asian Investor said in an earnings preview, adding that the recently announced expansion of the company's cloud partnership with Microsoft (MSFT) opens up a new revenue source.
PLTR shares have struggled since the company's strong Q4 report, having fallen about 20% up till their last close.
The company in late February joined the string of technology firms that announced layoffs amid an economic slowdown. PLTR said it would reduce its workforce by around 2% in an effort to reduce costs
Citi on Thursday said PLTR is likely to keep dealing with challenges posed by "incremental commercial headwinds," despite "resilient" spending from the federal government.
PLTR stock is rated a buy by SA Authors and Seeking Alpha's Quant system. Wall Street analysts, however, have a hold rating.