Closing Bell: Palantir Reports Revenue Up 48%, Hims & Hers Misses, ON Semi Matches

On this episode of Stock Movers:

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- Palantir (PLTR) reported a 48% increase in revenue for the second quarter to more than $1 billion, citing the “astonishing impact” of artificial technology on its business.The data software company also raised its revenue outlook for the full year to $4.14 billion to $4.15 billion, exceeding analysts’ prior expectation of $3.91 billion.Denver-based Palantir has seen its stock price surge more than 500% over the past year — buoyed by high expectations from investors, growth in demand for AI tools and a deep reach into both the private and public sectors. Shares rose in afterhours trading.

- Hims & Hers (HIMS) reported revenue for the second quarter that missed the average analyst estimate. The San Francisco-based company recorded sales of $545 million for the three months ended June 30, according to a statement, below Wall Street’s average estimate of $552 million. It reaffirmed its full-year revenue guidance of $2.3 billion to $2.4 billion. Shares dropped in post-market trading.

- ON Semi (ON) reported adjusted earnings per share for the second quarter that matched the average analyst estimate.

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