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Palantir Tops Third-Quarter Revenue Estimates on Strong AI Software Demand
- On Monday, Palantir Technologies reported third-quarter revenue of $2.31 billion, with U.S. commercial revenue hitting $984 million and surpassing government sales of $953 million for the first time.
- Strong demand for AI-powered data-analytics software drove this expansion, as clients seek competitive advantages and greater control over their data and AI models to maintain security.
- Net income more than doubled to $1.13 billion, or 44 cents per share, while Palantir closed 212 deals worth at least $1 million, with 64 worth at least $10 million.
- Following these results, Palantir raised its full-year revenue forecast to between $8.530 billion and $8.534 billion, while projecting U.S. commercial revenue "in excess of" $3.56 billion for the full year.
- CEO Alex Karp remains a vocal critic of leading AI labs, warning they force businesses to sell data sovereignty, though Palantir shares closed down 3.1% on Monday amid investor valuation concerns.
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Palantir’s US commercial revenue tops government for the first time
Palantir’s US commercial business brought in more revenue than its US government work for the first time in the third quarter. US commercial revenue rose 148% from a year earlier to $984m, the company said in its earnings release on Monday. Revenue from the US government rose 96% to $953m. Total revenue also rose 96%, […] This story continues at The Next Web
·Amsterdam, Netherlands (Kingdom of the)
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(San Francisco = Yonhap News) Correspondent Kwon Young-jeon = Palantir, an artificial intelligence (AI) data analytics company, has surpassed $2 billion in quarterly revenue for the first time.
·Seoul, Korea (the Republic of)
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Palantir expects quarterly revenue above estimates on AI demand
·London, United Kingdom
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Coverage Details
Total News Sources18
Leaning Left3Leaning Right2Center4Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 33%
C 45%
R 22%
Factuality
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