Reported 21 days ago
Palantir Technologies Inc. reported record quarterly revenue of $725.5 million, boosted by high demand for its AI software, leading to a 23% surge in its stock price, reaching an all-time high. The Denver-based company also revealed a net income of $144 million, exceeding analyst expectations. With 70% of its revenue coming from US clients, Palantir anticipates its US commercial revenue will grow over 50% this year, highlighting a significant boost from defense spending and partnerships, including a collaboration with Microsoft to enhance its AI capabilities.
Source: YAHOO