"The software platform reported $1.18 billion in earnings for the third quarter, which narrowly beat analysts' forecasts. Analysts shared concerns that the tech giant's performance and guidance don't justify its valuation. But what a valuation, though. Despite Tuesday's sell-off, Palantir shares are up a whopping 154% year-to-date. Karp attributes the continued growth of his company to a strong allyship with the U.S. government and a business that supports "the American worker that we helped make rich.""
"Palantir "was really the first company to be completely anti-woke," Karp told investors on the earnings call after market close on Monday. The tech giant has cozied up to President Donald Trump's administration, sending its CTO Shyam Sankar to the White House dinner that hosted Silicon Valley tech leaders in September. In an earnings call last year, Karp said wokeness was a "central risk" to Palantir, the U.S., and the world, and labeled it "a regressive way of thinking that is corrupting and corroding our institutions.""
"Karp previously was a major donor to former president Joe Biden and Kamala Harris' 2024 presidential campaign. He also said last year that when Peter Thiel, one of Karp's fellow cofounders of Palantir, supported Trump, it made it harder for the company to get things done. In July of last year, Karp said that he was "not thrilled" with the direction of the Democratic Party, but that he would be "voting against Trump.""
Palantir reported $1.18 billion in third-quarter earnings, narrowly beating analysts' forecasts and offering a quarter-four outlook that also exceeded Wall Street expectations. Shares fell 7.95% after an initial post-report spike, while analysts questioned whether performance and guidance justify the company's valuation. Despite the sell-off, Palantir stock is up 154% year-to-date. CEO Alex Karp attributes growth to strong ties with the U.S. government and support for "the American worker that we helped make rich." Karp framed Palantir as anti-woke, called wokeness a central risk, and has a mixed history of political donations and affiliations.
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