Palantir Reports Q2 Earnings In Line With Estimates, Announces $1 Billion Buyback, Raises Guidance As AI Demand Soars
Portfolio Pulse from Adam Eckert
Palantir Technologies Inc (NYSE:PLTR) reported Q2 earnings in line with estimates, with a 13% YoY revenue increase to $533.32 million and earnings of 5 cents per share. The company also announced a $1 billion share repurchase program and raised its full-year revenue guidance to over $2.212 billion. The demand for its AI platform is growing, with discussions underway with over 300 additional enterprises for deployment.
August 07, 2023 | 8:35 pm
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Palantir's Q2 earnings met estimates and the company announced a $1 billion share buyback. The company also raised its full-year revenue guidance due to increasing demand for its AI platform.
Palantir's Q2 earnings were in line with estimates, which is a positive sign for investors. The announcement of a $1 billion share buyback is likely to boost investor confidence and could lead to a short-term increase in the stock price. The raised revenue guidance indicates strong business performance and growth potential, which could further drive the stock price up.
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