Data specialist Palantir – 2023 will be the first profitable year
The controversial US data analysis firm Palantir assumes that 2023 will be the first profitable year. The company announced on Monday that the reason for the forecast was cost reductions for personnel and the boom in artificial intelligence. Palantir shares then jumped 15 percent in after-hours trading. However, due to weaker demand due to high inflation and lower spending from customers, Palantir expects sales of only $2.18 billion to $2.23 billion this year, down from analysts’ estimate of $2.29 billion.
For the fourth quarter, the company posted one to common shareholders attributable net income of $30.9 million after a loss of $156.2 million in the same period last year. Palantir works for the US military, the CIA and other agencies. In addition, the company, which was co-founded in 2003 by the German-born billionaire Peter Thiel, also works for companies such as Ferrari and IBM.