Palantir leaps after crushing estimates due to its popular AI tools

seekingalpha11-05

Michael Vi Palantir Technologies (NYSE:PLTR) continues to impress investors this year after it revealed a third quarter 2024 financial report and outlook that crushed estimates across the board. ...

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Share","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4588":"碎股","BK4023":"应用软件","PLTR":"Palantir Technologies Inc.","LU1861558580.USD":"日兴方舟颠覆性创新基金B","BK4543":"AI","BK4547":"WSB热门概念"},"translate_title":"Palantir凭借其流行的人工智能工具在超出预期后实现飞跃","themeId":"dab4c13a1a0f8391a9f5d5873d278722","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PLTR":1},"content_text":"Michael Vi Palantir Technologies (NYSE:PLTR) continues to impress investors this year after it revealed a third quarter 2024 financial report and outlook that crushed estimates across the board. Shares were up 12% during early post-market action Monday. High demand for the Colorado-based company's artificial intelligence software has catapulted Palantir shares nearly 150% year to date. \"We absolutely eviscerated this quarter, driven by unrelenting AI demand that won't slow down,\" said Palantir CEO and co-founder Alex Karp. \"This is a U.S.-driven AI revolution that has taken full hold. The world will be divided between AI haves and have-nots. At Palantir, we plan to power the winners.\" For the quarter ended September 30, Palantir reported adjusted earnings per share of $0.10 versus the consensus estimate of $0.09. Revenue totaled $725.52M, which was more than the consensus of $703M. \"Palantir's Q3 saw a key highlight in its 54% growth in U.S. commercial revenue, marking a shift towards greater private-sector engagement,\" said Seeking Alpha analyst Yiannis Zourmpanos. \"This expansion signals that Palantir’s AI offerings are resonating with U.S. businesses, diversifying its revenue base beyond government contracts.\" For the quarter in progress, Palantir expects revenue to range from $767M to $771M, which is well above the estimate of $746M. \"Palantir's revenue growth is accelerating thanks to AIP adoption, and this is also contributing to robust margins and cash flow,\" said James Foord, Investing Group Leader for The Pragmatic Investor. \"We reached $499 million in U.S. revenue across both the commercial and government markets in the third quarter, representing an increase of 44% compared to the same period a year earlier,\" Karp said, in a note to investors.  \"As America once again forges ahead, our allies and partners in Europe are being left behind,\" he added. \"Their private and state institutions stand on the sidelines during this pivotal moment in economic history, while the relentless innovation of U.S. companies disrupts and reshapes global industries. 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