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[1/2] The logo of U.S. software company Palantir Technologies is seen in Davos, Switzerland January 22, 2020. REUTERS/Arnd Wiegmann/File PhotoAug 7 (Reuters) - Palantir Technologies (PLTR.N) raised its annual revenue forecast on Monday and said it would buy back shares worth up to $1 billion as the data analytics software maker enjoys "unprecedented demand" for its artificial intelligence platform. The company launched the platform, which includes an AI assistant that can help enterprises make decisions about their operations, in April. Its second-quarter sales and third-quarter revenue forecast were also above estimates, according to Refinitiv data. Still, the company expects full-year 2023 revenue to come in above $2.21 billion, compared with its earlier forecast of $2.19 billion to $2.24 billion.

Persons: Arnd, Alexander Karp, Palantir, David Glazer, Glazer, Chavi Mehta, Shinjini Organizations: Palantir Technologies, REUTERS, Investors, Central Intelligence Agency, Thomson Locations: Davos, Switzerland, Europe, Bengaluru

The new generative AI platform was launched two weeks ago and works on the same technology that's behind ChatGPT. The first iteration of the AI platform will be made available to some customers this month, Palantir CEO Alexander Karp said, adding the new offering can assist militaries in targeting enemies. Palantir's first-quarter revenue rose 18% to $525.2 million and adjusted profit stood at 5 cents per share, both above estimates. Palantir continues to tighten its cloud spending and is investing in focus areas like AI, said finance chief David Glazer. The company forecast second-quarter revenue of $528 million and $532 million, below estimates of $536.2 million, per Refinitiv data.

May 8 (Reuters) - Data analytics software maker Palantir Technologies (PLTR.N) said on Monday it expects to turn a profit every quarter in 2023 weeks after launching its new artificial intelligence platform, sending its shares up about 28% in extended trading. Palantir's new generative AI platform works on the same technology that's behind ChatGPT. The interest in the new offering has been "unlike anything we have seen", CEO Alexander Karp said in a letter to shareholders, adding the AI platform can assist militaries in targeting enemies. The company forecast second-quarter revenue in the range of $528 million and $532 million, below estimates of $536.2 million, per Refinitiv data. Palantir continues to tighten its cloud spending and is investing in focus areas like AI, said Glazer.

☆ Palantir cuts around 2% of its workforce
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

Feb 27 (Reuters) - Data analytics firm Palantir Technologies (PLTR.N) said on Monday it has cut about 2% of its workforce, joining a raft of U.S. companies that have laid off thousands of workers amid an economic downturn. "To continue to evolve, we are making the tough choice of reducing teams in several areas," the company said. "While less than 2% of our workforce is impacted by these changes, these are incredibly painful decisions but the right ones for the company's future." Palantir, known for its work with the U.S. Central Intelligence Agency, had 3,838 full-time employees as of Dec. 31, 2022. Earlier this month, Palantir had also said it expects 2023 to be the company's first profitable year as it benefits from cost cuts and the artificial intelligence boom.

☆ Palantir expects 2023 to be first profitable year, sees AI driving growth
▼ + stars: | 2023-02-13 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

The move underlines a trend of greater frugality by tech firms after rapid hiring during the pandemic left them with a bloated workforce. The demand weakness, however, weighed on Palantir's 2023 revenue forecast, which at between $2.18 billion and $2.23 billion was below the $2.29 billion estimated by analysts, according to Refinitiv. That revenue is expected to nearly halve in the first quarter to $16 million from a year earlier. "There are many different ways we can integrate with technologies like ChatGPT and apply those technologies to our customers data," said Chief Revenue Officer Ryan Taylor. Reporting by Chavi Mehta in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Palantir expects 2023 to be first profitable year, shares soar
▼ + stars: | 2023-02-13 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

Feb 13 (Reuters) - Palantir Technologies (PLTR.N) on Monday forecast its first profitable year and said it had slowed hiring, cut stock-based payouts and reduced cloud computing investments in response to lower spending from recession-wary businesses. The company forecast 2023 revenue between $2.18 billion and $2.23 billion, below the $2.29 billion estimated by analysts, according to Refinitiv. Still, a jump in defense contracts following Russia's invasion of Ukraine helped fourth-quarter revenue beat estimates with a rise of 18% to $509 million. Palantir signed deals with defense contractor Lockheed Martin (LMT.N) and the UK military in the period. Excluding items, Palantir earned 4 cents per share, compared to estimates of 3 cents per share.

☆ Palantir posts slowest revenue growth in two years on sluggish Europe demand
▼ + stars: | 2022-11-07 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

Nov 7 (Reuters) - Palantir Technologies Inc (PLTR.N) posted its slowest quarterly growth in revenue since going public in 2020 due to weak demand for its data analytics software in Europe, while a strong dollar weighed on its profit, sending its share down 8.5% on Monday. But in the third quarter, revenue from the segment declined nearly 3% to $204 million from the previous three months, raising doubts among Wall Street analysts about sustained revenue from commercial deals amid rising cost of borrowing. Analysts had expected the Ukraine war to draw in more business to Palantir, but finance chief David Glazer said the timing of new government contracts remained uncertain. Palantir said it expects fourth-quarter revenue to be between $508 million and $510 million, excluding a $5 million forex impact. Analysts on average expect revenue at $502.7 million.

☆ Palantir sees upbeat fourth-quarter revenue on U.S. govt business strength
▼ + stars: | 2022-11-07 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

Nov 7 (Reuters) - Palantir Technologies Inc (PLTR.N) on Monday posted a 22% rise in its quarterly revenue and forecast a better-than-expected fourth-quarter revenue due to renewal and expansion of U.S. government contracts and a growing commercial business. For the third quarter, Palantir's revenue rose 22% to $477.9 million, its slowest growth since it went public in 2020. The company has been diversifying into commercial business to reduce its dependence on uncertain government contracts, with its U.S. commercial business growing 53% in the quarter ended Sept. 30. Excluding a $5 million forex hit, the company now expects fourth-quarter revenue to be between $508 million and $510 million. For fiscal 2022, Palantir said it expects revenue between $1.906 billion to $1.908 billion excluding foreign exchange impact.

☆ Palantir accused of securities fraud in class-action suit after the company did not profit from 'armed conflicts' and 'economic crises' as claimed
▼ + stars: | 2022-09-22 | by ( Caroline Haskins | ) www.businessinsider.com time to read: +4 min

A lawsuit alleges that Palantir made "materially false and misleading statements" about the company ahead of its earnings reports released May 9. The complaint says that the COVID-19 pandemic and Russo-Ukrainian War are the "destabilizing conditions" that Palantir had said would be "tailwinds for its business." A Palantir investor hit the company with a suit seeking class-action status on September 15, alleging that the software company committed securities fraud by making "materially false and misleading statements" by claiming "armed conflicts" and "economic crises" would help its business and earnings. "As a result, the Company's public statements were materially false and misleading at all relevant times," the complaint says. The law offices of Howard G. Smith also announced it was launching an "investigation" into possible violations of US securities law.

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