Palantir announced impressive earnings results, with a 50% revenue increase to nearly $1 billion and a 144% rise in net income to $327 million. CEO Alex Karp provided positive guidance for Q3, outlining plans to grow revenue while reducing workforce from 4,100 to 3,600. This sentiment has energized tech investors, contributing to a broader market rally. Goldman Sachs noted a general risk-on attitude in equities, with expectations of an upcoming interest rate cut from the Federal Reserve increasing investor optimism.
Palantir's revenues soared nearly 50% to almost $1 billion and net income increased 144%, boosting investor confidence in AI’s role in tech growth and job reduction.
Palantir CEO Alex Karp stated an ambition to raise revenue and decrease workforce size, aiming for 10x revenue growth with significantly fewer employees.
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