Palantir announces $1 billion buyback program as earnings meet expectations

📆 8/7/2023 11:12 PM
📰 MarketWatch

⏱ Reading Time:
34 sec. here
2 min. at publisher
📊 Quality Score:
News: 17%
Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Palantir Technologies Inc. matched expectations with its latest quarterly results Monday while announcing a new $1 billion buyback authorization. The software company posted its third quarter in a row of GAAP profitability, recording second-quarter net income of $28 million, or 1 cent a share.

Palantir Technologies Inc. matched expectations with its latest quarterly results Monday while announcing a new $1 billion buyback authorization.

Palantir... Palantir Technologies Inc. matched expectations with its latest quarterly results Monday while announcing a new $1 billion buyback authorization. Palantir also announced that its board of directors has approved a stock-buyback program of up to $1 billion. The move comes as the company posted $285 million in adjusted free cash flow during the first half of the year and finished the second quarter with $3.1 billion in cash and equivalents on its balance sheet.

Added Chief Executive Alex Karp in a shareholder letter: “The scale of the opportunity that lies ahead has increased significantly in recent months. And we intend to capture it.”

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ginkgo Bioworks stock pops as company plans Merck collaborationGinkgo Bioworks Holdings Inc. shares were rising more than 5% in Monday’s premarket trading after the company said it was collaborating with Merck & Co. Inc....
Source: MarketWatch - 🏆 3. / 97 Read more »