My first reaction after reading Palantir’s earnings report was: How is this not good enough?
Revenue came in at $2.313 billion, up 96% year over year—the first time quarterly revenue has topped $2 billion.
U.S. commercial revenue was $984 million, up 148% year over year, and exceeded government revenue of $953 million for the first time ever.
Full-year guidance was raised straight to $8.53 billion, while Q4 guidance of $2.65 billion also topped market expectations.
Net income was $1.128 billion, with an adjusted operating margin of 62%.
By anyone’s standards, this is a near-perfect report.
But the market just wasn’t buying it. The stock seesawed after hours, with no big celebratory rally.
The reason isn’t in the earnings report—it’s in the valuation.
At 50 times forward sales, the market isn’t looking for excellence; it wants to be dazzled again.
You’ve beaten expectations again and again, so investors have started pricing in the beats themselves.
That’s the most frustrating thing about AI trading right now: fundamentals are accelerating, but stock prices are paying off the debt of expectations.
AMD’s earnings report after the close tonight is no different. Don’t just ask whether it beat expectations—ask by how much it needs to beat them to cover the valuation bill.
When the AI narrative cools, risk appetite in crypto markets has to be repriced too.
Do you look at the earnings numbers first, or the valuation?
$PLTR $BTC
#市场观察 #EarningsSeason
This is not investment advice. DYOR. Trading involves risk.
Revenue came in at $2.313 billion, up 96% year over year—the first time quarterly revenue has topped $2 billion.
U.S. commercial revenue was $984 million, up 148% year over year, and exceeded government revenue of $953 million for the first time ever.
Full-year guidance was raised straight to $8.53 billion, while Q4 guidance of $2.65 billion also topped market expectations.
Net income was $1.128 billion, with an adjusted operating margin of 62%.
By anyone’s standards, this is a near-perfect report.
But the market just wasn’t buying it. The stock seesawed after hours, with no big celebratory rally.
The reason isn’t in the earnings report—it’s in the valuation.
At 50 times forward sales, the market isn’t looking for excellence; it wants to be dazzled again.
You’ve beaten expectations again and again, so investors have started pricing in the beats themselves.
That’s the most frustrating thing about AI trading right now: fundamentals are accelerating, but stock prices are paying off the debt of expectations.
AMD’s earnings report after the close tonight is no different. Don’t just ask whether it beat expectations—ask by how much it needs to beat them to cover the valuation bill.
When the AI narrative cools, risk appetite in crypto markets has to be repriced too.
Do you look at the earnings numbers first, or the valuation?
$PLTR $BTC
#市场观察 #EarningsSeason
This is not investment advice. DYOR. Trading involves risk.