Palantir Raises Annual Revenue Forecast on AI Strength
Palantir Technologies Raises Annual Revenue Forecast
Palantir Technologies raised its annual revenue forecast for the second time this year. The company topped second-quarter estimates for revenue and earnings. Palantir also raised its 2024 revenue guidance by roughly 2%, to between $2.742 billion and $2.750 billion. Palantir Technologies shares surged nearly 20% on Tuesday following the announcement. Palantir shares rose more than 20% in intraday trading on Thursday after the company's third-quarter results.
Data analytics firm Palantir Technologies raised its annual revenue forecast on Monday, citing strong demand for its artificial intelligence (AI)-powered software. The company now expects to generate between $1.900 billion and $1.905 billion in revenue for the full year, up from its previous forecast of $1.880 billion to $1.900 billion.
Palantir's AI software is used by governments and businesses to analyze large amounts of data to identify patterns and trends. The company has seen strong demand for its software in recent months, as organizations increasingly look to use AI to improve their operations.
Palantir's revenue forecast increase is a sign of the growing demand for AI software. The company is well-positioned to capitalize on this demand, given its strong track record and its focus on developing innovative AI solutions.
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