Palantir reported third-quarter revenue (three months ending Sept. 30) of $2.31 billion, above analyst projections of $2.18 billion. Growth accelerated to 96% from 93% in the previous quarter, and U.S. commercial revenue ($984 million) exceeded U.S. government revenue ($953 million) for the first time. Adjusted EPS came in at 44 cents, above the 41 cents analysts expected. The stock nonetheless fell in recent sessions and dropped further after hours amid pressure on tech stocks. At just over $178, the shares trade at more than 100 times earnings; the author sees the stock as intriguing on weakness but says its high valuation means it is not a no-brainer, since strong growth is already priced in.
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