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Palantir's big quarter
Palantir (NYSE:PLTR) was surging more than 14% pre-market after the company beat estimates with its first-ever quarterly profit: Adjusted earnings came in at $0.04 per share, topping the Street consensus by a penny. Revenue totaled $509 million, better than expectations of $503.1M.
The company says it expects first-quarter revenue of between $503M and $507M, under the $520.3M (NYSE:MMM) average estimate.
Fueling these results were new contract wins stemming from the firm's efforts to expand its commercial business, as quarterly commercial revenue grew 11% year over year to $215M. Still, Palantir said U.S. demand for this segment had slowed.
Morgan Stanley reiterated an Equal Weight rating on PLTR as growth continues to slide despite improving GAAP profitability, and Goldman Sachs said that while the core commercial business momentum is solid, visibility into government acceleration remains poor.
Thyssenkrupp founders on disappointing results
Thyssenkrupp (ETR:TKAG) shares in Frankfurt were recently off more than 7% after first-quarter adjusted EBIT dropped by one-third year over year to €254M. The company said this was mainly due to a steep decrease in metal prices hitting its materials services division.
Thyssenkrupp also said it is leaving its full-year outlook unchanged, which analysts say implies returns will be lower for the remainder of the year.
SolarEdge takes a hit despite earnings beat
SolarEdge (NASDAQ:SEDG) was losing more than 5% in pre-market trading even though its $2.86 EPS crushed expectations of $1.54. Revenue of $890.7M was also better than expected. Investors may be disappointed that the company only maintained its 2023 revenue growth guide of 20%-30%.
Goldman Sachs said the company delivered “well above expectations” results as Europe continues to look “very healthy."
For its first fiscal quarter, the company sees revenue at $930M (up or down $15M), beating the consensus of $918.5M.
Coca-Cola guides up
Coca-Cola (NYSE:KO) shares reported earnings of $0.45 per share in the fourth quarter, meeting the analyst consensus, and slightly higher-than-expected sales of $10.1B.
Guidance widely topped expectations: It expects to deliver organic revenue growth of 7%-8% and comparable EPS growth of 4%-5%, beating the average analyst estimate of 2.96% growth.
Shares were fractionally higher in the pre-market.
Marriott notches a win on solid travel demand
Marriott (NASDAQ:MAR) said it earned $1.96 per share in the fourth quarter, surpassing the average analyst estimate of $1.83 by $0.13. Revenue also beat expectations handily, coming in at $5.92B versus the $5.39B consensus.
The cheery results are a reflection of strong travel demand in the quarter.
Shares were up marginally pre-market.
Scott Kanowsky, Yasin Ebrahim, and Senad Karaahmetovic contributed to this report.
