Palantir lifts outlook after ‘otherworldly’ commercial sales
Chief Executive Officer Alex Karp said U.S. commercial sales in the second quarter rose 149% from a year earlier to $764 million, well above the average analyst estimate.
Palantir Technologies has lifted its revenue and income forecasts for the year after its second-quarter sales smashed expectations. The company's commercial demand for its data analytics tools was described as "otherworldly" by the firm. Palantir now projects $4.89 billion to $4.91 billion in adjusted income from operations for the year, up from $4.45 billion at the higher end of its previous range.
The software developer and major military vendor forecast as much as $8.16 billion in sales, which is higher than the average estimate of around $7.7 billion. Palantir's Chief Executive Officer, Alex Karp, stated that U.S. commercial sales in the second quarter were "staggering," with a 149% increase from the previous year to $764 million. This figure surpassed the average analyst estimate of $716.4 million.
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