Palantir Technologies Inc. Stock Update

Palantir Technologies Inc. (PLTR) Stock Moves 6.7%: What You Should Know

Palantir Technologies Inc. (PLTR) shares are trading higher by 6.7% at $24.85 in Tuesday's pre-market session, following the company's better-than-expected Q4 2022 earnings report.

For the quarter, Palantir reported earnings of $0.05 per share, surpassing the Zacks Consensus Estimate of $0.04 per share. Revenue of $448 million also topped the consensus estimate of $436.1 million.

The strong earnings report was driven by the company's continued growth in its commercial business, which saw a 24% year-over-year increase in revenue. Palantir's government business also showed improvement, with revenue up 14% year-over-year.

The company's CEO, Will Ackerly, attributed the strong results to the company's focus on delivering value to its customers through its software and services. Ackerly also highlighted the company's commitment to expanding its commercial business, which he believes has significant growth potential.

Palantir's strong earnings report and guidance have boosted investor confidence in the company, leading to the significant stock price increase. The company's stock has been trading volatile in recent weeks, but the latest earnings report has helped to stabilize the stock and potentially set the stage for further gains.

Investors will be watching Palantir's future earnings reports and guidance closely to see if the company can continue to deliver strong results and drive growth. With the company's strong track record and commitment to expanding its commercial business, Palantir's stock could potentially continue to move higher in the coming months.