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Reuters:
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Heartspace News Desk
•Source: Reuters
Photo by Markus Winkler on Unsplash
TL;DR
Palantir Technologies increased its revenue forecast due to strong demand, projecting fourth-quarter revenue between $1.327 billion and $1.331 billion and raising full-year projections to $4.396 billion to $4.40 billion. Despite the raised projections, Palantir's shares fell nearly 6% in early Frankfurt trading amidst valuation and growth concerns.
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Key takeaways
- Palantir Technologies has revised its revenue forecast upward, driven by strong demand for its artificial intelligence and data analytics platforms
- The company now anticipates fourth-quarter revenue in the range of $1
- 331 billion, surpassing analyst estimates of $1
Palantir Technologies has revised its revenue forecast upward, driven by strong demand for its artificial intelligence and data analytics platforms. The company now anticipates fourth-quarter revenue in the range of $1.327 billion to $1.331 billion, surpassing analyst estimates of $1.19 billion.
This positive outlook follows a better-than-expected third quarter, resulting in an increased full-year revenue projection of $4.396 billion to $4.40 billion. Despite the optimistic forecast, Palantir's shares experienced a decline of nearly 6% in early Frankfurt trading. This downturn reflects concerns regarding the company's valuation, particularly its forward price-to-earnings ratio of 246.2, and potential deceleration in revenue growth from 63% to approximately 61%.
Related Topics
PalantirAIrevenue forecastdata analyticsvaluationstock marketfinancial performance
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