New York
In the bustling city of New York, the data mining giant Palantir Technologiesin has reported an impressive surge in its net sales. In the last quarter of the year, the company’s net sales grew by a substantial 20 percent from the previous year. The new figure announced stands at a whopping 608.4 billion dollars, significantly surpassing the predictions made by industry analysts.
The financial success of the company is further illustrated by its net profit which witnessed a monumental rise. From the previous year’s 30.9 billion dollars, the net profit escalated to a massive 93.4 billion dollars.
In a recent press release, the company’s CEO, Alex Karp, expressed his excitement and satisfaction regarding the company’s performance. He emphasized that the growth and expansion of the company have never been more robust, especially in the United States. He noted the “relentless” demand in the US for extensive language models, such as artificial intelligence applications like ChatGP.
As per Karp’s statements, the company has been heavily investing in its artificial intelligence platform. In 2023 alone, the company conducted nearly 600 pilot projects on its platform, a significant increase from less than a hundred in 2022.
Looking ahead, the company has projected its turnover for the coming year. It expects the first-year turnover to be between 612 and 616 million dollars. As for the entire year, the company predicts its turnover to be within the range of 2.65 to 2.67 billion dollars.
Palantir has a known history of collaborating with the US military and intelligence services. According to the company’s reports, its turnover from the US government showed a significant increase of 70 percent from the previous year.
The company’s strong financial performance has led to its fourth consecutive profitable quarter. This consistent profitability now makes it eligible for inclusion in the esteemed S&P 500 index.
Following the announcement of these impressive results after the stock market closed, Palantir’s share saw an almost 20 percent rise in the aftermarket.
