Palantir Technologies Inc. (NYSE: PLTR) has reported a remarkable fourth quarter for the fiscal year 2024, showcasing substantial growth driven by demand for its artificial intelligence (AI) solutions. In an earnings report released recently, Palantir’s revenue rose 30% year-over-year to $533 million, surpassing analyst expectations of $500 million. The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at $208 million, contributing to an adjusted earnings per share (EPS) of 0.08, which exceeded the forecast of 0.05. The impressive performance was largely fueled by burgeoning AI adoption, with CEO Alex Karp emphasizing the pivotal role of AI in transforming business operations. Karp stated, “Our software and AI capabilities have never been in higher demand as organizations seek to leverage data for real-time decision-making and operational efficiency. Our position as a leader in the AI sector remains strong.” Additionally, Palantir secured several major contracts with government and commercial clients, further boosting its stock price, which surged 15% following the earnings announcement. This growth places Palantir on a robust trajectory, predicting future revenue growth of over 25% for the upcoming fiscal year. Analysts remain optimistic about Palantir’s strategic investments in AI and their potential to revolutionize the company’s growth.
Palantir Reports Strong Q4 Earnings Driven by AI Growth
