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Will Top-Line Improvement Aid Palantir's (PLTR) Q1 Earnings?

Zacks Equity Research
·2 min read

Palantir Technologies Inc. PLTR will report its first-quarter 2024 results on May 6, after the bell.

We expect a significant year-over-year improvement in the company’s top line in the to-be-reported quarter, driven by healthy business from existing, as well as new customers, strengthening both Government and Commercial segments. The current Zacks Consensus Estimate for total revenues stands at $614.9 million, indicating 17.1% growth from the year-ago reported quarter.

Palantir Technologies Inc. Revenue (TTM)

Palantir Technologies Inc. Revenue (TTM)
Palantir Technologies Inc. Revenue (TTM)

Palantir Technologies Inc. revenue-ttm | Palantir Technologies Inc. Quote

Going by segments, the consensus estimate for Government revenues is pegged at $326 million, indicating 12.9% year-over-year growth. Palantir’s continued work in health care and defense is likely to have significantly benefited the Government segment in the quarter.

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The consensus mark for Commercial revenues is pegged at $289 million, indicating 22.5% year-over-year growth. These revenues are likely to have benefited from contributions from new as well as existing customers and expansions. The company has witnessed growth across multiple industries.

PLTR currently carries a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Earnings Snapshots of Some Service Stocks

Omnicom OMC reported impressive first-quarter 2024 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.

OMC’s earnings of $1.67 per share beat the consensus estimate by 9.9% and increased 7.1% year over year. Total revenues of $3.6 billion surpassed the consensus estimate by 1.6% and increased 5.4% year over year.

Equifax EFX reported mixed first-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate, but revenues missed the same.

EFX’s adjusted earnings were $1.5 per share, ahead of the Zacks Consensus Estimate by 4.2% and up 4.9% from the year-ago quarter. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 6.7% from the year-ago quarter.

ManpowerGroup MAN reported mixed first-quarter 2024 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.

Quarterly adjusted earnings of 94 cents per share surpassed the consensus mark by 4.4% but declined 41.6% year over year. Revenues of $4.4 billion lagged the consensus mark by 0.6% and fell 7% year over year.

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ManpowerGroup Inc. (MAN) : Free Stock Analysis Report

Omnicom Group Inc. (OMC) : Free Stock Analysis Report

Equifax, Inc. (EFX) : Free Stock Analysis Report

Palantir Technologies Inc. (PLTR) : Free Stock Analysis Report

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Zacks Investment Research