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Alex Carp, CEO of Palantir Technologies Inc., during an interview with Bloomberg Technology TV during the Foundrycon event in Palo Alto, California, USA, on Thursday, March 7, 2024.
David Paul Morris | Bloomberg | Ghetto images
Palants The shares jumped over 15% in the long -term trade on Monday after the software company reported the fourth quarter profit and revenue, which surpassed Wall Street assessments.
Here’s how Palantir did according to the scores of LSEG analysts:
- Profit per action: 14 cents adjusted according to 11 cents
- Revenue: $ 828 million against $ 776 million is expected
Along with the victory of the fourth quarter, Palaantir offered better than the expected guide. The company said it was expecting revenue of $ 858 million and $ 862 million before a $ 799 million estimate. Palantir predicted sales of $ 3.74 billion to $ 3.76 billion over the year, exceeding $ 3.52 billion average.
Palantir is a major provider of software and technological services for defense agencies. CEO Alex Carp attributes much of the company’s growth to use artificial intelligence.
“Our business results continue to amaze, demonstrating our deepening position in the center of the AI ​​revolution,” Carp said in the release of profits. “Our early insights around the commodation of large language models have evolved from theory to facts.”
The revenue increased by 36% in the quarter of $ 608.4 million a year earlier. Sales increase by 29%throughout the year. Carp said in a letter to the shareholders that the momentum that the company is experiencing in its commercial and government segments is “unlike anything that came before”
Palantir said his US trade revenue increased by 64% compared to a year to $ 214 million, while revenue from the US government increased by 45% compared to a year to $ 343 million.
“We are still in the most stages, the beginning of the first act, of a revolution that will play for years and decades,” Carp said, adding that the company “prepares for the moment more than twenty years.”
The results follow a massive rally in Palantir’s shares, which increased by 340% in 2024. The company Join S&P 500 too and Nasdaq 100 last year.
Palantir has benefited from a boom in generative AI after the release of Openai Chatgpt in late 2022 in Interview with CNBC Last week, Carp said Palantir was ready to lead the transformation of US companies and he claims that US strengthening is his “main goal”.
Carp also responded to the latest concerns about China’s climbing Deepseek, which broke out financial markets early last week and caused fears of the huge costs that Megacaps joined in AI infrastructure and technological progress in China.
“Technology is not inherently good,” he told Sarah Eisen of CNBC In the interview. “We have to admit this, but it also means that we have to run harder, run faster, and have efforts for all countries.”
