Shares soar as yearly revenue up 93%, even as opposition grows to company’s role in Trump immigration agenda
In a sea of companies reporting mixed financial results this quarter, Palantir stands out. Although Palantir was not immune to the AI jitters that caused industry-wide drops in share prices earlier this year, the AI and analytics company reported that its overall revenue grew 93% year over year to $1.94bn. That’s well over the $1.8bn Wall Street expected Palantir to bring in for the second quarter.
The glowing financials sparked a 10% surge in share prices in the immediate aftermath. Despite growing opposition to Palantir’s work with various governments including the crucial role the company plays in the Trump administration’s immigration agenda, the company’s revenue from US government contracts grew 90% year over year to $809m.
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Shares soar as yearly revenue up 93%, even as opposition grows to company’s role in Trump immigration agenda
In a sea of companies reporting mixed financial results this quarter, Palantir stands out. Although Palantir was not immune to the AI jitters that caused industry-wide drops in share prices earlier this year, the AI and analytics company reported that its overall revenue grew 93% year over year to $1.94bn. That’s well over the $1.8bn Wall Street expected Palantir to bring in for the second quarter.
The glowing financials sparked a 10% surge in share prices in the immediate aftermath. Despite growing opposition to Palantir’s work with various governments including the crucial role the company plays in the Trump administration’s immigration agenda, the company’s revenue from US government contracts grew 90% year over year to $809m. Continue reading…Technology | The Guardian