Palantir (PLTR) Q4 earnings 2024

Palantir Shares rose as much as 18% in extended trade Monday after the software company reported earnings and revenue in the fourth quarter that exceeded Wall Street’s estimates.

Here’s how Palantir did versus the discretion of analysts that were aligned by LSEG:

• Earnings per Stock: 14 cents, adjusted vs. 11 cents expected
• Revenue: $ 828 million against $ 776 million expected

Together with the fourth quarter stroke, Palantir offered better than expected guidance. The company said it expects revenue of between $ 858 million and $ 862 million, in front of an LSEG estimate of $ 799 million. For the whole year, Palantir sales expected $ 3.74 billion to $ 3.76 billion, peaking the average of $ 3.52 billion.

Palantir is a major provider of software and technology services for defense agencies. CEO Alex Karp attributed much of the company’s growth to its use of artificial intelligence.

“Our business results continue to amaze and demonstrate our in -depth position in the center of the AI ​​Revolution,” Karp said in the revenue release. “Our early insights about commoditization of large language models have evolved from theory to fact.”

Revenue rose 36% in the quarter from $ 608.4 million a year earlier. Throughout the year, sales rose 29%. Karp said in a letter to shareholders that the momentum experienced by the company across its commercial and government segments is “contrary to something that has come before”

Palantir said its US commercial revenue rose 64% a year ago to $ 214 million, while US government revenue rose 45% year by year to $ 343 million.

“We are still in the earliest stages, the beginning of the first act, of a revolution that will play out this year and decades,” Karp said, adding that the company has “prepared for this moment diligently for more than twenty years. “

The results follow a massive rally in Palantir’s stock, which rose 340% by 2024. The company joined both S&P 500 and NASDAQ 100 last year.

Palantir has benefited from the boom in generative AI following the release of Openais Chatgpt at the end of 2022. In an interview with CNBC last week, Karp said Palantir is ready to lead the transformation of US companies, and he claimed that strengthening the United States is its “primarily goal.”

Karp also responded to the recent concerns about the rise of China’s Deepseek, which pummed financial markets early last week and spurred fears that the fierce who used megacaps have funnels to AI infrastructure and China’s technological advances.

“Technology is not inherent,” he told CNBC’s Sara Eisen in the interview. “We have to acknowledge it, but it also just means that we have to run harder, run faster, have an effort in all country.”

CLOCK: CNBCS Interview with Palantir CEO Alex Karp