Alex Karp, CEO of Palantir Technologies Inc., during the television interview of Bloomberg’s technology during the event of a chart in Palo Alt, California, USA, on Thursday, March 7, 2024.
David Paul Morris | Bloomberg | Getty Images
Palantir The shares increased more than 15% on Monday in extended trading after the software company reported on earnings and revenues in the fourth quarter that surpassed Wall Street estimates.
Here’s how Palantir did in relation to the assessments of the analyst surveyed by LSEG:
- Earnings per share: 14 cents, adapted to 11 cents
- Income: $ 828 million is expected compared to $ 776 million
Together with a victory in the fourth quarter, Palantir offered better than expected guidelines. The company said it was expecting a revenue between $ 858 and $ 862 million, on the eve of the $ 799 million estimate. For the whole year, Palantir predicted sales from $ 3.74 billion to $ 3.76 billion, which is at the top of an average estimate of $ 3.52 billion.
Palantir is the main provider of software and technological services to defense agencies. Executive director Alex Karp attributed most of the company growth to its use of artificial intelligence.
“Our business results are still amazed, showing our deepening position in the center of the AI Revolution,” Karp said in a statement for earnings. “Our early insights over the comfort of large language models have developed from the theory to the fact.”
The revenue increased by 36% in a quarter with $ 608.4 million a year earlier. For the whole year, sales increased by 29%. In a letter to the shareholders, Karp said that the momentum the company experiences in its commercial and government segments “as opposed to everything that came before”
Palantir said his commercial income in the US increased by 64% compared to the year to $ 214 million, while the US government revenues increased 45% compared to a year to $ 343 million.
“We are still in the earliest stages, the beginning of the first act of the revolution that will be played over the years and decades,” Karp said, adding that the company “has been diligently preparing for more than twenty years.”
The results of the following are a huge set in Palantor’s shares, which increased 340% in 2024. Company Joined by S&P 500 and Nasdaq 100 last year.
Palantir has benefited from flourishing in the generative AI after the publication of Openai’s Chatgpt at the end of 2022. Interview with CNBC Last week, Karp said that Palantir was ready to run the transformation of US companies, and he claimed that strengthening the US was his “main goal.”
Karp also responded to recent worries about the rise of Chinese Deepseek, which swallowed financial markets earlier last week and encouraged fears due to a huge megakap of consumption entered AI infrastructure and Chinese technological progress.
“Technology is not inherently good,” he said CNBC -ova Sara Eisen in an interview. “We have to admit it, but it also means that we have to run stronger, run faster, have an effort on all countries.”
WATCH: Interview CNBC -As Executive Director Palantir Alex Karp
