Palantir Technologies Q3 Earnings Report

Investing.com — On Monday, Palantir Technologies raised its full-year guidance following impressive third-quarter earnings as the data analytics firm experiences significant growth from the AI sector.

Palantir Technologies Inc (NYSE:PLTR) saw its stock jump over 13% in after-hours trading post-announcement.

For the three months ending September 30, Palantir reported:
– Q3 Adjusted Earnings: $0.10 per share
– Revenue: $725.5 million
This surpassed analysts' expectations of an adjusted EPS of $0.09 on revenue of $703.4 million.

The company experienced a 39% year-over-year increase in customer count, fueled by a surge in demand for AI services.

> "We absolutely eviscerated this quarter, driven by unrelenting AI demand that won’t slow down," remarked the company.

Looking ahead to 2024, Palantir is guiding revenue between $2.805 billion to $2.809 billion, an increase from the previous guidance of $2.742 billion to $2.750 billion.

For Q4, the company forecasts revenue between $767 million to $771 million, compared to analyst estimates of $742.3 million.