Palantir Technologies Inc. ( (PLTR) ) has released its Q3 earnings. Here is a breakdown of the information Palantir Technologies Inc. presented to its investors.
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Palantir Technologies Inc. is a software company that specializes in big data analytics, operating primarily in the technology sector with a focus on providing data integration and analysis solutions to commercial and government organizations.
In its latest earnings report, Palantir Technologies announced a substantial revenue growth of 30% year-over-year, with U.S. revenue surging by 44%. The company reported a GAAP earnings per share of $0.06 and raised its full-year guidance, driven by strong demand for its artificial intelligence offerings.
Palantir’s financial performance in the third quarter of 2024 was bolstered by a 44% increase in U.S. revenue, reaching $499 million, with commercial revenue growing 54% and government revenue up 40%. The company closed 104 deals exceeding $1 million each, and customer count soared by 39% year-over-year. Palantir achieved a GAAP net income of $144 million, representing a 20% margin, and a cash flow from operations of $420 million. The company’s adjusted earnings per share grew 43% to $0.10.
Looking ahead, Palantir has raised its revenue guidance for the fourth quarter and full year of 2024. The company now anticipates revenue between $767 million and $771 million for Q4, and has increased its full-year revenue guidance to between $2.805 billion and $2.809 billion. With continued focus on leveraging AI and expanding its commercial reach, Palantir aims to maintain its growth trajectory in the coming quarters.
