Second Quarter Results
For the quarter that ended on June 30th, sales amounted to $533 million with government revenue making up 57% of revenue. International government revenue was leading the way as it expanded 31% to $76 million.
Up from $179 million net loss made during last year’s comparable quarter, Palantir made a net income rose of $28 million, or 1 cent per share.
Guidance
Third-quarter revenue is expected between $553 million and $557 million, topping Refinitiv’s consensus estimate of $552 million.
Palantir lifted its full year outlook. Adjusted income from operations has been guided at $576 million, up from May’s outlook range between 506 million and $556 million as the data analytics company announced a contract from the U.S. Special Operations Command that is valued at $463 million.
An AI Fortress In The Making
With its latest results, Palantir showed its focus on profitability and given its extensive AI experience, partners span across the public and private domain, it is well positioned for the next decade, being a major player in the generative AI era next to Big Tech such as Microsoft and Alphabet.
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