Palantir Technologies Inc.Raises full-year revenue outlook on strong government and commercial demand, with US government revenue up 90%.
US data analytics company Palantir Technologies has raised its full-year revenue outlook to between 8.15 billion and 8.158 billion dollars, up from its previous forecast of 7.65 billion to 7.662 billion dollars. Demand from government agencies and private enterprises remains strong, with second-quarter US government revenue surging 90 percent to 809 million dollars. Adjusted earnings per share came in at 41 cents, beating market expectations of 35 cents, while revenue jumped 93 percent to 1.94 billion dollars, exceeding the forecast of 1.8 billion dollars. The annual revenue outlook for the US commercial sector was also raised from over 3.224 billion dollars to over 3.424 billion dollars. CEO Alex Karp said the business is compounding its growth. Meanwhile in Europe, France's General Directorate for Internal Security has indicated plans to switch from Palantir tools to rival products, and the Mayor of London has blocked a contract with the Metropolitan Police, reflecting growing wariness about reliance on US technology.
Palantir Technologies Inc.Raises full-year revenue outlook on strong government and commercial demand, with US government revenue up 90%.