Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Palantir shares climbed more than 7 per cent in after-hours trading on Monday after the data intelligence group forecast a big leap in revenues next year.
The company said it expected revenue to come in at about $7.2bn this year, well above analysts’ expectations.
Strong fourth-quarter revenue of $1.4bn pushed its sales for 2025 up by 56 per cent year-on-year to $4.5bn, beating Wall Street expectations of $4.4bn.
Net income in the fourth quarter rose to $609mn, far ahead of analysts’ forecasts of $461mn.
“We are an n of 1, and these numbers prove it,” said Alex Karp, Palantir’s chief executive. He said the company had been at the forefront of deploying AI models “well before” its competitors.
Shares in Palantir had slipped 16 per cent this year ahead of Monday’s earnings report, dragged down alongside software peers amid investor jitters around the sustainability of an AI boom that knocked the likes of Microsoft and Europe’s SAP after they posted last week.
At close of trading in New York on Monday, Palantir was still trading at more than 147 times forward earnings, according to FactSet data, well above rivals in the software market.
Credit: Source link
