Alex
Karp,
CEO
of
Palantir
Technologies,
speaks
at
the
World
Economic
Forum,
in
Davos,
Switzerland,
Jan.
18,
2023.

Arnd
Wiegmann
|
Reuters

Shares
of


Palantir

rose
as
much
as
28%
in
extended
trading
Monday
after
the
company
released first-quarter
earnings

that
beat
analysts’
estimates
and
said
it
expects
to
be
profitable
through
the
end
of
the
year.

Here’s
how
the
company
did:


  • EPS: 

    5
    cents
    adjusted
    vs.
    4
    cents
    expected
    by
    analysts,
    according
    to
    Refinitiv

  • Revenue: 
    $525
    million
    vs.
    $506
    million
    expected
    by
    analysts,
    according
    to
    Refinitiv

related
investing
news

Palantir’s
revenue
for
the
quarter
increased
18%
year
over
year,
and
its
U.S.
commercial
revenue
grew
26%.
The
software
company,
which
is
known
for
its
work
with
the
government,
said
its
U.S.
commercial
customer
count
increased
50%
year
over
year,
growing
from
103
customers
to
155.

The
company
reported
its
second-ever
quarter
of
positive
net
income
on
a
GAAP
basis,
at
$17
million,
and
in
a
letter
to
shareholders,
CEO
Alex
Karp said
the
company
expects
to
remain
profitable
“each
quarter
through
the
end
of
the
year.”


Last
quarter
,
Palantir
marked
its
first-ever
quarter
of
positive
net
income
on
a
GAAP
basis,
at
$31
million.
“This
is
a
significant
moment
for
us
and
our
supporters,”
Karp said
in
a
release
 at
the
time.

Palantir
said
it
expects
to
report
between
$528
million
and
$532
million
in
revenue
during
its
second
quarter
and
between
$2.19
billion
and
$2.24
billion
for
the
full
year.

Karp
also
said
the
demand
for
Palantir’s
new
artificial
intelligence
platform
is
“without
precedent.”
The
company’s
AI
platform
allows
commercial
and
government
sectors
to
use
large
language
models
based
on
their
own
private
data
sets,
and
it
will
be
available
to
“select
customers”
this
month.

“We
have
already
had
hundreds
of
conversations
with
potential
customers
about
deploying
the
software
and
are
currently
negotiating
terms
and
pricing
for
access
to
the
components
of
the
platform,”
he
wrote.

Karp
said
that
because
artificial
intelligence
presents
“real”
risks
Palantir’s
software
is
designed
with
human
involvement
and
oversight
in
mind.
In
other
words,
AI
will
not
be
able
to
independently
carry
out
targeting
operations
in
a
military
context.

“The
machine
must
remain
subordinate
to
its
creator,”
he
said.

The
company
will
hold
its
quarterly
call
with
investors
Monday
at
5
p.m.
ET.