Palantir Technologies (PLTR) on Monday reported June-quarter earnings that missed views while revenue edged by Wall Street targets. PLTR stock tumbled as revenue guidance came in below expectations amid slowing government growth.
Denver-based Palantir reported second-quarter earnings before the market open. Palantir stock tumbled 14.2% to close at 9.82 on the stock market today.
Revenue guidance for Palantir stock disappointed.
Palantir Stock: U.S. Government Spending
“The tone of the (Palantir earnings) call was muted with Palantir frustrated with the push out of large U.S. government programs and the negative impact this delay is expected to have on the company’s financial performance in the second half of the year,” said Brian White, analyst at Monness, Crespi and Hardt. “Outside of this setback, the company sounded upbeat about U.S. commercial trends. Also, the company remains committed to its ambitious hiring program…