Palantir Technologies reported robust third-quarter 2024 results, with revenue climbing 30% year-over-year to $726 million, surpassing the average analyst estimate of $701 million. Adjusted earnings per share reached 10 cents, beating the 9-cent estimate.
The company's net income for the quarter was $143.5 million, or 6 cents per share, a significant increase from $71.5 million, or 3 cents per share, in the same period last year. This strong performance was attributed to accelerating demand for artificial intelligence technologies.
Palantir raised its full-year 2024 revenue guidance for the third time, now expecting between $2.805 billion and $2.809 billion, up from the previous range of $2.742 billion to $2.750 billion. The company also provided an optimistic outlook for the fourth quarter, projecting revenue between $767 million and $771 million, exceeding analyst expectations of $741.4 million.
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