Palantir shares dropped more than 10% Tuesday even after the data analytics and artificial intelligence software company showed ongoing revenue growth acceleration.

“Some investors may be disappointed with the modest full- year revenue guidance raise, the sequential margin decline, and the international commercial revenue year-over-year decline,” wrote William Blair analyst Louie DiPalma, adding that the company’s high software multiple makes it “vulnerable” to compression as revenue growth slows.

Despite the post-earnings move, Palantir topped revenue expectations and lifted its revenue guidance for the year. The Denver-based company posted adjusted earnings of 13 cents per share on $884 million in revenues. Analysts polled by LSEG had expected adjusted EPS of 13 cents and revenues of $863 million.

Palantir’s revenues rose 39% from $634.3 million in the year-ago quarter. Net income grew to about $214 million, or 8 cents per share, from roughly $105.5 million, or 4 cents per share, a year ago. The company also hiked its full-year revenue outlook to between $3.89 billion and $3.90 billion

CEO Alex Karp said that “Palantir is on fire” and he’s “very optimistic” about the current setup during the earnings call after the bell Monday.

“The reality of what’s going on is that this is an unvarnished cacophony — the combination of 20 years of investment and a massive cultural shift in the U.S. which is generating numbers,” he said.

Palantir has outperformed the market this year, building on a successful 2024 run in which the stock was the best performer in the S&P 500. Many on Wall Street say the surge in shares has contributed to an elevated multiple for the company, making the bar higher and higher to clear. To be sure, the stock has undergone immense volatility amid the latest batch of market volatility spurred by President Donald Trump’s tariff plans.

“While 2025 numbers move higher on guidance ahead of consensus, we question conservatism and if estimate revisions are priced in from here,” said RBC Capital Markets analyst Rishi Jaluria.

Despite the company’s strong execution and fundamentals, Mizuho’s Gregg Moskowitz also said it’s “very difficult to justify” its high multiple. Raymond James analyst Brian Gesuale said that Palantir needs to consolidate some of its gains to “grow into its rich valuation.”

Wall Street also highlighted a deceleration in international commercial revenues among the reasons for the potential decline in shares. The segment fell 5% year over year after rising 3% in the previous quarter due to headwinds in Europe.

Management said on an earnings call that the region is “going through a very structural change and doesn’t quite get AI.”

Uber will acquire an 85% stake in Turkish food delivery platform Trendyol GO for about $700 million in cash, the company said in a securities filing.

The deal, subject to regulatory approval, is expected to close in the second half of this year. Uber said it expects the transaction to be accretive to its growth once completed.

“Uber and Trendyol GO coming together will elevate the delivery sector in Türkiye for consumers, couriers, restaurants and retailers, especially small and family-owned businesses,” Uber CEO Dara Khosrowshahi said in a release. “This deal reflects our long-term commitment to Türkiye, we’re incredibly impressed with what the Trendyol GO team has built, and we’re excited to continue that strong momentum across the country.”

Founded in 2010, Trendyol GO is run by Turkish e-commerce platform Trendyol, which is majority owned by Chinese titan Alibaba. The platform hosts roughly 90,000 restaurants and 19,000 couriers across the country.

In 2024, Trendyol GO delivery more than 200 million orders and generated $2 billion in gross bookings, a jump of 50% year over year, Uber said in the securities filing.

The announcement comes as Uber is set to report first-quarter earnings before market open on Wednesday. The rideshare and food delivery company is expected to post earnings per share of 51 cents on revenue of $11.6 billion, according to StreetAccount.

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Doordash on Tuesday announced the $1.2 billion acquisition of restaurant booking platform SevenRooms and reported first-quarter revenue that missed expectations.

Shares fell about 4% following the news.

Here’s how the company did, based on LSEG expectations:

• Earnings per share: 44 cents adjusted vs. 39 cents expected
• Revenue: $3.03 billion vs. $3.09 billion expected

Doordash said the all-cash acquisition of SevenRooms, a New York City-based data platform for restaurants and hotels to manage booking information, will close in the second half of 2025.

British food delivery service Deliveroo said Tuesday that they have agreed to a takeover offer from American rival Doordash worth $3.9 billion.

“We believe both SevenRooms and Deliveroo will expand our ability to build world class services that increase our potential to grow local commerce and support our financial goals,” Doordash said in a release.

Doordash reported total orders of 732 million for the quarter, an 18% increase over the same period a year ago. Analysts polled by StreetAccount expected 732.7 million.

The company said it expects second-quarter adjusted EBITDA of $600 million to $650 million. Analysts polled by StreetAccount expected $639 million.

“So far in 2025, consumer demand on our marketplaces has remained strong, with engagement across different consumer cohorts and types that we believe is consistent with typical seasonal patterns,” the company said.

Doordash reported $193 million in net income for Q1 2025, or 44 cents per share. The company had a net loss of $23 million, or a net loss of 6 cents per share, in the same quarter a year ago.

Doordash noted growth in the grocery delivery category, citing “accelerating average spend per grocery consumer and increasing average spend on perishables.”

The company did not mention tariffs as a factor in the financial outlook, but did note that an increased international presence leaves it open to “geopolitical and currency risks.”

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