Complete News World

Palantir sales exceed expectations: Palantir shares jump |  02/06/24

Palantir sales exceed expectations: Palantir shares jump | 02/06/24

For Palantir, the fiscal fourth quarter of 2023 ended with a jump in sales. After $509 million, the company had sales of $608.4 million in the reporting period, beating analyst estimates of $603 million.

EPS were $0.08 in the quarter under review, compared to $0.04 per share a year ago and experts' EPS estimates of $0.070.

Expectations within expectations

For the current first quarter, the company is targeting sales between $612 and $616 million, and adjusted operating income is expected to be between $196 and $200 million. For full fiscal year 2024, Palantir plans to achieve sales of $2.652 million to $2.668 billion and adjusted operating income of $834 million to $850 million, while adjusted free cash flow is expected to be between $800 million and $1 billion.

This view is consistent with expectations.

CEO with confidence

Company President Alexander C. Karp is confident in his annual letter to shareholders. “Our expansion and growth as a company and as an organization has never been greater,” the director said. “Our results reflect the strength of our programs and the growing demand we are seeing across all industries and sectors for AI platforms […] Look”.

The CEO also noted that Palantir has positioned itself as a “fundamentally new software company” “after nearly two decades of investment.”

In trading on the New York Stock Exchange, Palantir shares temporarily rose 27.69 percent to $21.32. editorial team