Palantir's 'Game Changer Quarter' Proves AI Monetization On Global Demand, Says Tech Bull: 'Use Cases Are Exploding' For Messi Of AI
Portfolio Pulse from Benzinga Neuro
Palantir Technologies Inc. (NYSE:PLTR) had a 'game changer' quarter, according to Wedbush Securities analyst Dan Ives. The company reported a 27% year-over-year increase in total revenue, driven by a 41% rise in customer count, particularly in the U.S. commercial sector. Palantir's revenue for the second quarter was $678.13 million, surpassing the consensus estimate of $652.1 million. The stock surged by 12.16% in after-hours trading following the earnings report.

August 06, 2024 | 7:58 am
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Palantir Technologies Inc. reported a strong second-quarter performance with a 27% year-over-year increase in total revenue, driven by significant growth in the U.S. commercial sector. The stock surged by 12.16% in after-hours trading.
The strong earnings report and significant revenue growth, particularly in the U.S. commercial sector, indicate robust demand for Palantir's AI solutions. The positive market reaction in after-hours trading suggests investor confidence in the company's future performance.
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