Palantir (PLTR) raises forecast on strong demand for AI products; Shares rally

Palantir (NYSE: PLTR) reported earnings per share of $0.07 for the third quarter, exceeding the analyst estimate of $0.06.

The company's revenue for the quarter reached $558 million, slightly surpassing the consensus estimate of $555.7 million.

Palantir stock gained over 12% in pre-market trade following the report.

Palantir expects fourth-quarter revenue to be in the range of $599-603 million, which is just above the consensus estimate of $600 million. Adjusted income from operations is projected to be between $184 million and $188 million.

For the full year 2023, Palantir raised its revenue forecast to the range of $2.216 billion to $2.22 billion, which is slightly above the consensus estimate of $2.21 billion.

The company also raised its adjusted income from operations guidance to a range of $607 million to $611 million.

By Senad Karaahmetovic

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