Palantir slumps 5% after earnings as analysts point to slowdown in total contract value
The software giant's stock fell after earnings failed to impress investors.
TL;DR
- Palantir's shares fell after reporting Q3 earnings, with analysts noting a slowdown in U.S. commercial total contract value (TCV).
- U.S. commercial revenue surpassed government revenue for the first time, but TCV growth slowed to 11% from 153% in the prior quarter.
- Analysts are looking for evidence that the 11% TCV growth is not a structural issue.
- Apple reported better-than-expected revenue but missed iPad sales estimates and issued a disappointing margin forecast.
- Apple is facing challenges from a global memory crunch and rising component costs.
- Despite supply constraints, Apple's CEO stated it was their best fiscal year ever.