Palantir earnings show AI traction, while company hits a milestone on profits

Palantir Technologies Inc. just notched its fourth quarterly GAAP profit in a row, and executives at the software company are cheering its traction in artificial intelligence.

With Palantir’s streak of GAAP profits, it’s now eligible for inclusion in the S&P 500, though it’s up to the index committee which companies get to join. Revenue rose 17% to $558 million in the third quarter, edging consensus expectations for $556 million. Palantir enjoyed upside in its U.S. commercial business, which posted 33% top-line growth and benefited from demand for the company’s Artificial Intelligence Platform, known as AIP.“This whole quarter was driven by the strength of the U.S. commercial business,” Chief Financial Officer David Glazer told MarketWatch, adding that AIP is “really on fire.

Palantir almost tripled the number of customers using AIP last quarter, marking “the tip of the iceberg in terms of what we’re doing with AI,” according to Taylor.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Bear Squeeze Remains in the Offing as Stocks ReboundStocks Analysis by Jani Ziedins covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Jani Ziedins's latest article on Investing.com
Sumber: Investingcom - 🏆 450. / 53 Baca lebih lajut »

Bear Squeeze Remains in the Offing as Stocks BounceStocks Analysis by Jani Ziedins covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Jani Ziedins's latest article on Investing.com
Sumber: Investingcom - 🏆 450. / 53 Baca lebih lajut »

Time to Book Profits as Market Rebound Could Face HeadwindsStocks Analysis by Jani Ziedins covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Jani Ziedins's latest article on Investing.com
Sumber: Investingcom - 🏆 450. / 53 Baca lebih lajut »

S&P 500 futures tick higher as attention turns from Fed to latest earnings reports: Live updatesThe Federal Reserve kept rates at the conclusion of its meeting Wednesday, fueling a rally for stocks to start November.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »