Palantir Technologies reached a significant milestone with a record $1 billion in revenue for the quarter, marking a 48% increase from the previous year. U.S. revenue surged by 68% to $733 million, largely due to a 93% hike in domestic commercial sales. Profits also rose by 33%, totaling $327 million. The company raised its revenue forecast for the year, anticipating full-year revenues between $4.14 billion and $4.15 billion. CEO Alex Karp explained that the integration of artificial intelligence is driving productivity and significantly changing workforce dynamics, emphasizing an efficient operational strategy moving forward.
Palantir Technologies achieved its first-ever billion-dollar quarter with $1 billion in revenue, reflecting a 48% year-over-year growth driven by artificial intelligence.
U.S. revenue total increased 68% to $733 million, with domestic commercial sales skyrocketing 93%, contributing to a profit increase by 33% to $327 million.
CEO Alex Karp stated, "We're planning to grow our revenue ... while decreasing our number of people... The goal is to get 10x revenue and have 3,600 people."
Palantir raised its outlook for the year, projecting full-year revenues of $4.14 billion-$4.15 billion and achieving a "rule of 40" score of 94%.
Collection
[
|
...
]