Palantir expects quarterly revenue above estimates on AI demand
PLTR•Palantir forecast fourth-quarter revenue of $2.649 billion to $2.653 billion, above analysts’ average estimate of $2.46 billion, and raised its annual revenue outlook to $8.530 billion to $8.534 billion. Third-quarter revenue rose about 96% to $2.31 billion.
1. Revenue outlook raised
Palantir Technologies forecast fourth-quarter revenue of $2.649 billion to $2.653 billion, above analysts’ average estimate of $2.46 billion. The company raised its annual revenue expectations to between $8.530 billion and $8.534 billion, from a prior range of $8.150 billion to $8.158 billion.
2. Third-quarter growth
Third-quarter revenue rose about 96% to $2.31 billion, exceeding estimates of $2.18 billion. CEO Alex Karp said in a shareholder letter, “We have now essentially doubled our entire business since the same quarter last year.”
