Live Earnings: Palantir (Nasdaq: PLTR) Guides to Big Beat

Looking for Wall Street’s reaction to Palantir’s earnings last night? We’re updating a new live blog with updates throughout the day on May 6th.

Palantir’s conference call is over, and the stock has settled into about an 8% loss after hours.

At the end of the day, the company had run up significantly in recent weeks. Even fantastic earnings weren’t enough to satisfy expectations.

Revenue continues to accelerate, hitting 39% growth last quarter. Revenue growth in the United States is even higher, clocking in at 55%.

While Palantir has soared in part thanks to optimism about continuing advantages for its government revenue, whether the company can continue to grow off very lofty current expectations will largely depend on whether it can continue exceeding in commercial revenue.

In the most recent quarter, U.S. commercial grew at 71%, while bookings grew 183% to $810 million.

Let’s walk through some positives from tonight’s earnings report:

• FY25 Guide: Palantir boosted its full-year revenue guide from 31% growth to 36% growth.
• Commercial Guide: We noted in our preview that U.S. commercial would be important, and the company guided growth from 54% to 68%.

Overall, it was a near-flawless quarter for Palantir, but as we noted in our preview – with its valuation at 3.5X higher than the next closest software company, even a near-flawless quarter won’t lead to a jump the next day.

Palantir’s stock dropped to $115 at 4:35 p.m. ET, but has bounced off the bottom and is now trading for closer to $118 per share. The company will begin its earnings call in 10 minutes which could provide additional price movement.

We had expressed relief Palantir was only down 2% in our most recent update, but it appears lofty expectations are catching up with the stock in after-hours trading now. Palantir is down 5.5% as of 4:24 p.m. ET.

As of 4:20 Palantir is down about 2%.

When you consider the stock was up 85% from its recent bottom, holding this steady should be encouraging for long-term holders. The company guided to 38% sales growth next quarter, which is above expectations.

Still, with Palantir trading at such an extreme price-to-sales multiple, any time the company can finish a quarter and justify its current valuation is impressive.

One area to watch: U.S. commercial revenues hit 71%, an acceleration versus last quarter.

With a stock trading at the levels Palantir is, here’s a look at where future guidance points:

• Revenue of next quarter has a midpoint of $936 million, above Wall Street expectations of $896 million.
• For the full year, guidance now stands at $3.895 billion (midpoint) versus expectations of $3.75 billion.

Palantir soundly beat both metrics, but with shares up more than any other S&P 500 stocks, simply beating isn’t enough to push its stock higher.

Shares are down 2.4% in after-hours trading. That’s a modest decline considering the stock’s recent rise.

Palantir’s earnings are out!

Here’s what we’re looking at:

• Good: Revenue topped expectations last quarter: $884M versus expectations of $862M
• Not as Good: EPS of $.13 exactly matched expectations.

The stock is down ~4% immediately. We’ll continue pouring through the report for analysis.

The market has closed for the day, the Nasdaq was down .74% while Palantir posted a relatively muted .89% drop. We are awaiting their earnings release and will be reading in real time.

Stay on this blog for updates as their earnings drop. 

Earnings are coming after the bell and Palantir stock is flat in late trading, down .3% as of 3:55. We will have live earnings analysis as soon as earnings drop. Stay tuned! Updates should automatically push in the coming minutes.

While Palantir saw a sharp fall across March and into early April, it is now the top-performing stock in the S&P 500. 

Here’s what’s even more impressive, there aren’t many other technology stocks near the top of the performance list!

1. Palantir: Up 64.3%
2. CVS Health: Up 50.3%
3. Philip Morris: Up 42%
4. Howmet Aerospace: Up 41%
5. Uber Technologies: Up 40%
6. Newmont Corp: Up 38.4%
7. Verisign: Up 37.3%
8. Cencora: Up 30.3%
9. Netflix: Up 29.8%
10. NRG Energy: Up 29.3%

The list has retailers, sin stocks, aerospace companies, and energy companies, but is light in many of the technology names you’re used to.

Despite coming into the year as one of the most expensive stocks in the market, Palantir continues to soar.

Twitter account Consensus Media posted an analysis of how Palantir compares headed into recent earnings and the bottom line is its just quite a bit more expensive. 

“How do you fade a story with no holes other than valuation?”

We get to test this again today with the Palantir $PLTR report. We’ll have an Actuals vs Consensus table posted ASAP following the release. https://t.co/0NXYMeAswa pic.twitter.com/D8tHURW92T

— Consensus Media (@ConsensusGurus) May 5, 2025

The forward P/E headed into tonight’s earnings is 211X versus 172X last quarter and 103X the quarter prior.

Expectations keep rising for Palantir, meaning a solid beat will be needed tonight to keep the stock moving upward.

A few areas to watch for on tonight’s earnings call include:

• U.S. Commercial Growth: Last quarter, Palantir grew this segment at a 64% rate. U.S. commercial revenue has come in ahead of global commercial revenue in recent quarters. With many U.S. companies adopting AI more aggressively than global peers, this segment could serve as a ‘preview’ of Palantir’s future growth potential.
• U.S. Commercial Bookings: Beyond revenue, investors watch the bookings Palantir records to gauge where revenue could reach in the future. Last quarter, the company surprised Wall Street with $803 million worth of U.S. commercial deals, which were up 134% from the prior year.