Palantir reported stronger-than-expected revenue and EPS in line with analyst estimates, but issued weaker-than-expected full-year guidance.Palantir signed a $178 million contract with the U.S. Army earlier this year, to help develop a next-generation, field-deployable sensor station.Alex Karp, CEO of Palantir, arrives for the “AI Insight Forum” at the Russell Senate Office Building on Capitol Hill on September 13, 2023 in Washington, DC.
"We anticipate that our U.S. commercial business, which accounted for 24% of our revenue last quarter, will remain one of the most significant drivers of our growth in the near term," CEO Alex Karp said in a"Warfare in this century will continue to be transformed by software," Karp said. "The platforms in use by our defense and intelligence partners present a very real threat to the survival of our enemies," he added.
Karp said that was a record profit. "For comparison, we now earn more profit in a single quarter than the amount of revenue we generated in an entire year a little more than a decade ago," he said.The weaker-than-expected full-year guidance comes despite a solid revenue beat for the first quarter and after remarkable success marketing its artificial intelligence products to the government and the private sector. Earlier this year, Palantirwith the U.S.
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