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According to the latest reports, Palantir has gone ahead and shared its earnings for the second quarter of 2021. The firm went ahead and shared its earnings report for the respective quarter on Thursday, August 12, 2021.
In its earnings report for the second quarter of 2021, Palantir has reported that its earnings are higher than the estimates made by Wall Street analysts. The firm exceeded expectations for revenue and based on the second-quarter performance, it has proceeded with setting up high guidance for the running quarter.
The company has reported that in the second quarter of 2021, it has experienced an 11.36% rise in terms of its share prices. When it comes to the share price expectations, the analysts had set the estimated share price at 4 cents per share. Whereas, the company managed to achieve a share price of 4 cents per, which is exactly what the analysts had predicted.
Then there is revenue that the company has generated in the second quarter of 2021. The company revealed that in the second quarter of 2021, it generated $376 million in revenue. Whereas, the revenue the analysts predicted in the estimations was $352.3 million. This goes to show that the company has generated almost $24 million more revenue than the analysts had predicted.
The firm has revealed that compared to the second quarter of 2020, its revenue in the second quarter of 2021 has increased by 49%.
For the running quarter, Palantir has estimated that it is expecting to generate revenue worth $385 million. On the other hand, the analysts have predicted that the revenue generation for the third quarter of 2021 would be $376 million. This shows that Palantir is aiming to generate $9 million more revenue than the analysts’ expectations.
The firm has also speculated that for the running as well as the upcoming years until 2025, it is expecting a 30% year-over-year increase in its revenues.
Palantir was founded back in 2003 by a group of investors belonging to the tech sector. The names of the particular investors and co-founders were Alex Karp, Joe Lonsdale, and Peter Thiel, among others. At present, Alex Karp is the chief executive officer of Palantir.
Palantir is prominently known for providing software for data analytics, as well as services to agencies belonging to the government sectors. Some of the major agencies it is known for supporting include the intelligence community, the Food and Drug Administration, and the Defense Department.
Over the course of time, Palantir is aiming to increase its business and jurisdiction beyond service provision to government sectors. The company does not want to rely solely on government contracts and now it is aiming to gain commercial prominence.
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