Palantir software foiled a plot to overthrow the German government, analysts were told on its earnings call.
Palantir Technologies Inc., the data analysis company co-founded by Peter Thiel, said it was profitable for the first time in the fourth quarter, and expects 2023 to be its first-ever profitable year.The company said on Monday it earned US1¢ per share during the fourth quarter using generally accepted accounting principles, exceeding analyst expectations for a US3¢ loss.
RBC Capital Markets analyst Rishi Jaluria said Palantir is delivering annual profit two years earlier than expected, but some concerns remain over growth. “The numbers aren’t particularly strong,” he said, adding that Palantir’s commercial business is especially vulnerable given the broader trend toward declining IT budgets. “The thing that surprised people is the profit” for 2023, he said.
In his letter to shareholders Karp described the two-year-old commercial sales team as “fledgling,” and said that the surge inwill help drive growth at Palantir over the long term. On the call, Palantir Chief Technology Officer Shyam Sankar said that the company had an eventful 2022. “Our software foiled a plot to overthrow the German government, delivered $US200 million in value to Tyson Foods and powered through the energy crisis,” he said.
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