Palantir stock jumps 19% as AI demand drives revenue beat
Publishing timestamp: 2024-02-05 18:49:25
Summary
Palantir reported fourth-quarter earnings that exceeded analysts' expectations, leading to a surge in their shares. The company's revenue increased by 20% year over year, and their CEO highlighted the unrelenting demand for large language models in the U.S. Palantir's expansion and growth have been significant, with the company carrying out numerous pilots with their Artificial Intelligence Platform. They provided guidance for the first quarter and full year, which aligned with Wall Street's estimates. Additionally, Palantir's U.S. commercial revenue and customer count experienced substantial growth. The company's profitability also makes it eligible for inclusion in the S&P 500.
Sentiment: POSITIVE
Tickers: PLTR,
Keywords: united states, enterprise, breaking news: earnings, earnings, breaking news: business, breaking news: technology, palantir technologies inc, internet, business news, technology, media,
Source: https://www.cnbc.com/2024/02/05/palantir-pltr-earnings-q4-2023.html