Palantir Technologies Inc. reported a 48% increase in revenue for the second quarter to more than $1 billion, citing the “astonishing impact” of artificial technology on its business.
The data software company also raised its revenue outlook for the full year to $4.14 billion to $4.15 billion, exceeding analysts’ prior expectation of $3.91 billion.
The shares gained about 4% in extended trading after closing at $160.66 in New York. Denver-based Palantir has seen its stock price surge more than 500% over the past year — buoyed by high expectations from investors, growth in demand for AI tools and a deep reach into both the private and public sectors. The company’s $1 billion revenue in the period ended June 30 exceeded analysts’ average estimate of $939 million. It said growth was particularly strong in the US, where sales jumped 68% to $733 million. (Source: Bloomberg)
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Palantir Reports Sales Up 48%, Cites ‘Astonishing’ AI Impact
