Palantir Q3 revenue grew 96%, but stock price fell due to slowing contract growth
PLTR Palantir Technologies Inc
$168.82 -0.22%
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- 1Palantir recorded Q3 revenue of $2.31 billion, achieving a Q3 revenue growth rate of 96%.
- 2Total Contract Value (TCV) increased by 6% year-over-year, a slowdown compared to the 49% growth in Q2.
- 3CFO Dave Glazer explained that customers signed larger contracts that were shorter than usual as they adopted new Sovereign AI features.
So what's the key point?
Palantir's third-quarter revenue increased by 96 percent. However, the stock price fell as the rate of contract growth slowed down.
Source The Motley Fool +1 · View original ↗
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