Defense-tech and AI firm Palantir reported earnings that beat analyst expectations on revenue, but also issued weaker-than-hoped for full-year guidance.
Palantir reported stronger-than-expected revenue and EPS in line with analyst estimates, but issued weaker-than-expected full-year guidance.Palantir signed a $178 million contract with the U.S. Army earlier this year, to help develop a next-generation, field-deployable sensor station.Alex Karp, CEO of Palantir, arrives for the “AI Insight Forum” at the Russell Senate Office Building on Capitol Hill on September 13, 2023 in Washington, DC.
The firm, which builds big-data and artificial intelligence software for governments and corporations worldwide issued guidance for the upcoming second quarter and full year. Palantir expects second-quarter revenue to fall between $649 million to $653 million, versus the $653 million expected by LSEG. The company guided to full-year revenue between $2.68 billion and $2.69 billion, weaker than an LSEG consensus estimate of $2.71 billion.
The weaker-than-expected full-year guidance comes despite a solid revenue beat for the first quarter and after remarkable success marketing its artificial intelligence products to the government and the private sector. Earlier this year, Palantir
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