Palantir Technologies Inc (NYSE:PLTR) is trading higher Thursday after the company announced better-than-expected second-quarter financial results and issued guidance above estimates.
Palantir reported quarterly adjusted earnings of 4 cents per share, which beat the estimate of 3 cents per share. The company reported quarterly revenue of $376 million, which beat the estimate of $353.23 million and represented a 49% increase year over year.
Palantir expects third-quarter revenue of $385 million versus the estimate of $376.4 million.
The company raised its full-year 2021 adjusted free cash flow guidance to “in excess of $300 million, up from in excess of $150 million.”
Palantir added 20 net new customers in the second quarter.
Palantir provides organizations with solutions to manage large disparate data sets in order to gain insight and drive operational outcomes.
Price Action: Palantir has traded as high as $45 and as low as $8.90 over a 52-week period.
At last check Thursday, the stock was up 6.58% at $23.82.
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