#Palantir #Stock #Pops #Earnings #Blow #Expectations
Palantir Technologies (PLTR) posted third-quarter earnings that came in ahead of analysts’ expectations, sending shares higher in extended trading Monday.
The analytics software provider reported revenue of $725.52 million, up 30% year over year and above the expectations of analysts surveyed by Visible Alpha. Net income was $143.53 million, or 6 cents per share, compared with $71.51 million, or 3 cents per share, in the prior year, beating expectations.
Palantir shares jumped more than 11% in extended trading after the release. They were up 141% during the year through Monday’s close.
Palantir CEO says strong results were driven by ‘continued demand for AI’
The company’s U.S. commercial revenues grew 54% to $179 million. Palantir CEO Alexander Karp said the strong results were “driven by continued demand for AI.”
The company said it expects fourth-quarter revenue to range from $767 million to $771 million, and raised its full-year forecast to revenue of between $2.805 billion and $2.809 billion, up from $2.742 billion to $2.75 billion previously.
#Palantir #Stock #Pops #Earnings #Blow #Expectations
