Palantir raises 2024 forecast on robust AI demand
ETtech.com - 2024-05-07T05:04:00.000Z

Data analytics firm Palantir Technologies raised its annual revenue and profit forecast and beat first-quarter sales estimates on Monday, riding on strong demand for its services that help businesses deploy artificial intelligence applications. The company has emerged as a winner of the generative AI boom thanks to its artificial intelligence platform, which is used to test and debug code and help evaluate AI-related scenarios, among other uses. AIP is driving a huge part of both our new...

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Palantir (PLTR) reported first quarter adjusted earnings per share of $0.08, which was in line with expectations. Revenue of $634 million was slightly better than the estimate of $615.8 million. For the second quarter, Palantir sees revenue of $649 million to $653 million, which topped the $641.2 million estimate and adjusted operating profit of $209 million to $213 million, versus the $198.6 million estimate. The company also raised its full-year revenue and adjusted operating profit guidance....
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In related news

Palantir boosts its earnings forecast on strong AI demand, but stock falls

Palantir raises full-year guidance on AI boost

Deere cuts 2024 profit forecast as falling crop prices squeezes demand