Impressive Financial Performance

Palantir Technologies Inc. has announced a remarkable 36% increase in its fourth-quarter revenue for the fiscal year 2024, reaching $828 million. This performance not only exceeded analysts' expectations but also marked a significant milestone for the company. Additionally, Palantir's net income saw a 10% rise from the previous year, totaling $79 million, with diluted earnings per share (EPS) at $0.03.

Annual Growth Highlights

For the entire year of 2024, Palantir reported a 29% year-over-year revenue growth, amounting to $2.87 billion. The company's net income also experienced a 16% increase, reaching $462 million, and EPS was recorded at $0.19. Looking ahead, Palantir is optimistic about its financial trajectory, projecting first-quarter 2025 revenues between $858 million and $862 million, and full-year 2025 revenues expected to range from $3.741 billion to $3.757 billion.

Leadership’s Perspective

"Our business results continue to astound, demonstrating our deepening position at the center of the AI revolution. Our early insights surrounding the commoditization of large language models have evolved from theory to fact," stated Alexander Karp, Chief Executive Officer of Palantir, highlighting the company's strategic advancements and its pivotal role in the AI sector.