Palantir shares drop in Europe despite earnings beat
Market Intelligence Analysis
AI-PoweredPalantir shares experienced a decline in European trading despite reporting strong quarterly earnings and providing an optimistic revenue forecast for Q4. This suggests that the market may be taking profits after a significant rally or has concerns about valuation.
Market impact analysis based on bearish sentiment with 75% confidence.
Article Context
Palantir Technologies fell almost 6% in early Frankfurt trading on Tuesday, as another strong quarterly update from the U.S. tech group failed to extend its record-breaking rally. The company, which has more than doubled in value this year, forecast fourth-quarter revenue above analyst estimates on Monday, driven by rapid adoption of artificial intelligence that is boosting demand for its data analytics services. By 0705 GMT, the stock was down 5.8%.
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