SpaceX Stake Added to Quarterly Earnings
During the company’s second-quarter earnings call on Monday, CFO David Glazer said unrealized gains from the company’s SpaceX investment contributed $0.03 to GAAP earnings per share and $0.02 to adjusted earnings per share.
The company posted GAAP and adjusted earnings of 41 cents for the quarter.
SpaceX IPO Created Windfall For Early Investors
SpaceX went public in June in the largest IPO on record, debuting at a valuation of roughly $1.75 trillion before rallying 65% to an all-time high in the weeks that followed.
The stock has since retreated from those post-listing highs and traded below its IPO price during July, but the listing still generated sizable unrealized gains for early investors such as Palantir and Alphabet during the quarter that ended in June.
Alphabet reported a roughly $98 billion net investment gain in the second quarter, driven largely by appreciation in its equity holdings, including SpaceX.
SpaceX will report its first earnings since its IPO on Tuesday after the bell.
Palantir Delivers Blowout Quarter
Looking ahead, Palantir forecast third-quarter revenue of $2.16 billion to $2.164 billion, above analyst expectations of $1.997 billion, and raised its full-year revenue guidance from $7.65 billion to $7.66 billion to $8.15 billion to $8.16 billion, compared to estimates of $7.69 billion.
Price Action: The stock closed 2.10% higher at $125.65 on Monday, while it gained 14.97% to $144.45 in extended trading on the earnings report, which came in after the bell.
Benzinga edge rankings indicate PLTR has a Momentum score in the 10th percentile and a Growth score in the 98th percentile.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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