Palantir Technologies NASDAQ:PLTR shares climbed about 2% Tuesday after the software company said it will release its second-quarter financial results after the market closes on Aug. 3.
Palantir is expected to report quarterly revenue of about $1.8 billion, based on analyst estimates, representing roughly 80% growth from a year earlier. Wall Street also projects earnings of $0.35 per share, more than double the year-ago period, reflecting expectations for continued demand and improving profitability.
The company has remained a closely watched artificial intelligence software provider as investors assess whether rapid revenue expansion can support its premium valuation. Analysts are also expected to focus on Palantir's free cash flow, a measure of cash generated after capital spending, as an indicator of the sustainability of its earnings growth.
Despite Tuesday's advance, Palantir shares have declined about 12% over the past year, while the broader S&P 500 has posted gains over the same period. Investors are expected to monitor the upcoming earnings report for updates on revenue trends, margins and cash generation.