Palantir rises on strong 2024 earnings forecast

Feb 05, 2024 .
- Admin

** Data analytics company Palantir TechnologiesPLTRShares rose 3.2% to $17.26 in extended trading

** On an adjusted basis, the company expects 2024 profit to be between $834 million and $850 million, up from expectations of $658.8 million

** Company expects U.S. commercial revenue to exceed $640 million in 2024, projected to grow at least 40%, compared with growth of 36% in 2023

** Chief revenue officer Ryan Taylor told Reuters: Palantir signed 103 deals in the fourth quarter, each worth more than $1 million.

** PLTR reports fourth-quarter revenue of $608.4 million, above analysts' expectations of $602.4 million - LSEG

** First quarter revenue expected to be between $612 million and $616 million, with $617.2 million expected

** Share price rises 167.5 in 2023