{"id":22889,"date":"2023-05-08T21:29:24","date_gmt":"2023-05-08T21:29:24","guid":{"rendered":"http:\/\/107237749"},"modified":"2023-05-08T21:29:24","modified_gmt":"2023-05-08T21:29:24","slug":"palantir-soars-on-earnings-beat-and-prediction-of-full-year-profitability","status":"publish","type":"post","link":"https:\/\/wp.worldtechguide.net\/palantir-soars-on-earnings-beat-and-prediction-of-full-year-profitability\/","title":{"rendered":"Palantir soars on earnings beat and prediction of full-year profitability"},"content":{"rendered":"<p><span class=\"HighlightShare-hidden\"><\/span><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107181184\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\" readability=\"9.5\">\n<div readability=\"14\">\n<p>Alex Karp, CEO of Palantir Technologies, speaks at the World Economic Forum, in Davos, Switzerland, Jan. 18, 2023.<\/p>\n<p>Arnd Wiegmann | Reuters<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\" readability=\"52.368352788586\">\n<p>Shares of <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><span class=\"waslinkname\">Palantir<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> rose as much as 28% in extended trading Monday after the company released&nbsp;<span class=\"waslinkname\">first-quarter earnings<\/span> that beat analysts&#8217; estimates and said it expects to be profitable through the end of the year.<\/p>\n<p>Here&#8217;s how the company did:<\/p>\n<ul>\n<li><strong>EPS:&nbsp;<\/strong> 5 cents adjusted vs. 4 cents expected by analysts, according to Refinitiv<\/li>\n<li><strong>Revenue:&nbsp;<\/strong>$525 million vs. $506 million expected by analysts, according to Refinitiv<\/li>\n<\/ul>\n<div class=\"ExclusiveContentBucket-exclusiveContentBucket\"><span class=\"ExclusiveContentBucket-smallSpan\"><\/span><span class=\"ExclusiveContentBucket-border\"><\/span><\/p>\n<h2 class=\"ExclusiveContentBucket-exclusiveContentHeading\">related investing news<\/h2>\n<div class=\"ExclusiveContentBucket-contentContainer\">\n<div class=\"BucketItem-bucketItem\" id=\"Regular Article-ExclusiveContentBucket-1-0\">\n<div class=\"BucketItem-bucketImageContainer\"><img decoding=\"async\" class=\"BucketItem-bucketImage BucketItem-proItem\" src=\"https:\/\/wp.worldtechguide.net\/wp-content\/uploads\/2023\/05\/palantir-soars-on-earnings-beat-and-prediction-of-full-year-profitability.png\" alt=\"Zscaler shares surge on better-than-expected guidance. Here's how to play it\"><\/p>\n<div class=\"BucketItem-proPillContainer\"><span class=\"waslinkname\"><img decoding=\"async\" class=\"BucketItem-proPill ProPill-proPill\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/f7f282b4f7f47fceda1e.svg\" alt=\"CNBC Pro\"><\/span><\/div>\n<\/div>\n<div class=\"BucketItem-textContainer\">\n<div class=\"BucketItem-bylineContainer\">\n<p>an hour ago<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Palantir&#8217;s revenue for the quarter increased 18% year over year, and its U.S. commercial revenue grew 26%. The software company, which is known for its work with the government, said its U.S. commercial customer count increased 50% year over year, growing from 103 customers to 155.<\/p>\n<p>The company reported its second-ever quarter of positive net income on a GAAP basis, at $17 million, and in a letter to shareholders, CEO Alex Karp&nbsp;said the company expects to remain profitable &#8220;each quarter through the end of the year.&#8221;<\/p>\n<p><span class=\"waslinkname\">Last quarter<\/span>, Palantir marked its first-ever quarter of positive net income on a GAAP basis, at $31 million. &#8220;This is a significant moment for us and our supporters,&#8221; Karp&nbsp;<span class=\"waslinkname\">said in a release<\/span>&nbsp;at the time.<\/p>\n<p>Palantir said it expects to report between $528 million and $532 million in revenue during its second quarter and between $2.19 billion and $2.24 billion for the full year.<\/p>\n<p>Karp also said the demand for Palantir&#8217;s new artificial intelligence platform is &#8220;without precedent.&#8221; The company&#8217;s AI platform allows commercial and government sectors to use large language models based on their own private data sets, and it will be available to &#8220;select customers&#8221; this month.<\/p>\n<p>&#8220;We have already had hundreds of conversations with potential customers about deploying the software and are currently negotiating terms and pricing for access to the components of the platform,&#8221; he wrote.<\/p>\n<p>Karp said that because artificial intelligence presents &#8220;real&#8221; risks Palantir&#8217;s software is designed with human involvement and oversight in mind. In other words, AI will not be able to independently carry out targeting operations in a military context.<\/p>\n<p>&#8220;The machine must remain subordinate to its creator,&#8221; he said.<\/p>\n<p>The company will hold its quarterly call with investors Monday at 5 p.m. ET.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Alex Karp, CEO of Palantir Technologies, speaks at the World Economic Forum, in Davos, Switzerland, Jan. 18, 2023. Arnd Wiegmann | Reuters Shares of Palantir rose as much as 28% in extended trading Monday after the company released&nbsp;first-quarter earnings that beat analysts&#8217; estimates and said it expects to be profitable through the end of the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":22890,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"hashtags":[],"_links":{"self":[{"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/posts\/22889"}],"collection":[{"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/comments?post=22889"}],"version-history":[{"count":0,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/posts\/22889\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/media\/22890"}],"wp:attachment":[{"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/media?parent=22889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/categories?post=22889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/tags?post=22889"},{"taxonomy":"hashtags","embeddable":true,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/hashtags?post=22889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}