Palantir Projects Q4 Revenue: Data analytics firm Palantir Technologies (PLTR.N) has projected fourth-quarter revenue exceeding market expectations, capitalizing on robust demand for its newly launched artificial intelligence platform, especially from clients such as U.S. government agencies.
The Colorado-based company witnessed a nearly 13% surge in its premarket trading shares.
Palantir anticipates fourth-quarter revenue to range between $599 million and $603 million, with the midpoint surpassing analysts’ estimates of $600.5 million, as per LSEG data.
In a promising signal for the future appeal of its AI platform, Palantir reported substantial interest in the “AI bootcamps” introduced in October, offering clients access for one to five days.
Palantir’s Chief Revenue Officer, Ryan Taylor, remarked, “By the end of November, we’re on track to conduct bootcamps with 140 organizations, and half of those will take place during that month.”
The user base for Palantir’s AI platform experienced remarkable growth in the July-September period, according to Taylor.
The company’s third-quarter revenue saw a 17% increase, reaching $558 million, slightly exceeding expectations.
However, revenue from government clients, a pivotal revenue source, grew by 12%, falling short of Wall Street’s projections and the 15% growth recorded in the previous quarter.
Budgetary constraints at the government level had introduced some near-term uncertainty into the business landscape. Nevertheless, Palantir maintains a positive outlook regarding demand, particularly given the backdrop of geopolitical tensions.
On the commercial front, revenue climbed by 23% to $251 million, with half of this figure originating from the United States, where demand has proven stronger than in Europe.
The adjusted net income attributable to the company’s shareholders experienced a substantial uptick, reaching $155 million, marking nearly a 30% sequential increase..
Also read: PayPal Market Rally: Trimmed Costs and SEC Scrutiny Amid Stablecoin Venture
Our Reader’s Queries
How much will Palantir make in Q4 2023?
PLTR has released its Q3 2023 financial results, revealing promising figures. Looking ahead to Q4 2023, the company anticipates revenue to fall between $599 – $603 million, with adjusted income from operations projected to reach $184 – $188 million. These results demonstrate the company’s continued growth and success in the market.
How much does PLTR make in q3?
Palantir, a leading data analytics company, has reported a 17% increase in revenue for the third quarter, reaching $558 million compared to $478 million in the same period last year. The company also announced a net income of $72 million, or 3 cents per share, a significant improvement from the net loss of $123.9 million reported in the year-ago quarter. These impressive results demonstrate Palantir’s continued success in the data analytics industry.
What is Palantir revenue guidance for 2023?
Palantir has projected a revenue of $601 million for the current quarter, ending in December. This is in line with the estimated revenue of $600 million. The software company has also revised its full-year 2023 revenue outlook to a range of $2.216 billion to $2.220 billion, which is an increase from the previous projection of $2.212 billion. These positive developments indicate a promising future for Palantir and its stakeholders.
What is the revenue of Palantir?
Palantir Technologies Inc. (PLTR) reported a revenue of $2.13B in the twelve months ending September 30, 2023, showing a 16.13% growth year-over-year. The quarter ending September 30, 2023, saw a revenue of $558.16M with 16.80% year-over-year growth. In 2022, Palantir’s annual revenue was $1.91B, with a growth rate of 23.61%.