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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 $555 million, indicating 16.1% growth from the year-ago reported quarter.
Going by segments, the consensus estimate for Government revenues is pegged at $317 million, indicating 15.7% year-over-year growth. Palantir’s expanding work with the U.K. government is likely to have significantly benefited the Government segment in the quarter.
The consensus mark for Commercial revenues is pegged at $317 million, indicating 16.2% year-over-year growth. These revenues are likely to have benefited from contributions from new as well as existing customers and expansions. Palantir’s commercial business has been delivering promptly on the back of a rapidly growing customer count through events like AIPCon and direct customer referrals to their network. The company has also witnessed growth across multiple industries.
PLTR currently carries a Zacks Rank #2 (Buy).
Stocks That Warrant a Look
Here are some stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings this season.
The company’s revenues are expected to rise 4.5% from a year ago. The bottom line is forecast to decline 22.8% from the prior-year figure. IT is scheduled to release third-quarter earnings on Nov 3.
Trane Technologies (TT - Free Report) has an Earnings ESP of +0.54% and a Zacks Rank of 2 at present. The company’s revenues and earnings are suggested to grow 9.4% and 17.2%, respectively, from the year-ago levels.
TT beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 7.3%. It is expected to release third-quarter numbers on Nov 1.
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Will Top-Line Improvement Aid Palantir's (PLTR) Q3 Earnings?
Palantir Technologies Inc. (PLTR - Free Report) will report third-quarter 2023 results on Nov 2, before 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 $555 million, indicating 16.1% growth from the year-ago reported quarter.
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 $317 million, indicating 15.7% year-over-year growth. Palantir’s expanding work with the U.K. government is likely to have significantly benefited the Government segment in the quarter.
The consensus mark for Commercial revenues is pegged at $317 million, indicating 16.2% year-over-year growth. These revenues are likely to have benefited from contributions from new as well as existing customers and expansions. Palantir’s commercial business has been delivering promptly on the back of a rapidly growing customer count through events like AIPCon and direct customer referrals to their network. The company has also witnessed growth across multiple industries.
PLTR currently carries a Zacks Rank #2 (Buy).
Stocks That Warrant a Look
Here are some stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings this season.
Gartner (IT - Free Report) has an Earnings ESP of +4.30% and carries a Zacks Rank of 3 (Hold) at present. IT beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 32.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company’s revenues are expected to rise 4.5% from a year ago. The bottom line is forecast to decline 22.8% from the prior-year figure. IT is scheduled to release third-quarter earnings on Nov 3.
Trane Technologies (TT - Free Report) has an Earnings ESP of +0.54% and a Zacks Rank of 2 at present. The company’s revenues and earnings are suggested to grow 9.4% and 17.2%, respectively, from the year-ago levels.
TT beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 7.3%. It is expected to release third-quarter numbers on Nov 1.