Palantir Technologies is a software company that specializes in large-scale data analysis. In their Q3 2024 report, they revealed a 30% increase in total revenue compared to the same quarter the year before, totaling $726 million. Revenue in the United States alone saw a 44% increase to $499 million. The company reported a net profit of $144 million according to GAAP accounting standards, resulting in a profit margin of 20%.
CEO of Palantir, Alex Karp, mentioned that the company continues to break records in this quarter, driven by the unrelenting demand for AI. The key clients of Palantir are government agencies in the United States, with Karp stating that the high demand for AI from this group is fueling the company’s growth, as well as expanding the use of AI among private sector clients in various industries.
Source: Palantir and CNBC
TLDR: Palantir Technologies reported significant revenue growth in Q3 2024, driven by high demand for AI, especially from government agencies in the US. The company’s profit margin stood at 20%, reflecting its ongoing success in the market.
Leave a Comment