Palantir, a major provider of software and technology services, reported better-than-expected earnings and revenue for the fourth quarter. Shares surged 22% in extended trading following the strong results and outlook.
The company’s earnings report follows its historic stock rally last year, during which its shares rose 340%. Palantir attributed its growth to the use of artificial intelligence, particularly large language models. CEO Alex Karp stated that the company is well-positioned at the center of the AI revolution and has “deepening insights” on the commoditization of these models.
Revenue increased 36% in the quarter from $608.4 million a year earlier, with U.S. commercial revenue growing 64% to $214 million. Palantir expects U.S. commercial sales to grow at least 54% to about $1.08 billion in 2025.
Karp emphasized that technology is not inherently good, but rather it’s a tool that requires careful management and oversight. He asserted that bolstering the US is Palantir’s primary objective, and the company aims to lead the transformation of American companies through AI.
Source: https://www.cnbc.com/2025/02/03/palantir-pltr-q4-earnings-2024.html