• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Thursday, May 8
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Palantir expects 2023 to be first profitable year, shares soar
Business

Palantir expects 2023 to be first profitable year, shares soar

February 14, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

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 forecast, coming on the back of better-than-expected fourth-quarter results, sent the data analytics software maker’s shares up 16% after hours and was set to add nearly $3 billion to the company’s market capitalization of $15.6 billion.

“As we look ahead to 2023, we will continue to exercise spend discipline … pace hiring while continuing to invest in high priority areas, including in our product offerings, building out our go-to-market strategy and technical roles,” said finance chief David Glazer.

The comments on cost discipline echo those from tech giants including Meta Platforms (META.O) and Alphabet Inc (GOOGL.O), which have shed thousands of jobs in the past months.

Latest Updates

View 2 more stories

Palantir executives also enthused over AI on an interview, saying the rise of ChatGPT was proving to be a bright spot for the sector and would help its business in 2023.

“There are many different ways we can integrate with technologies like ChatGPT and apply those technologies to our customers data,” Chief Revenue Officer Ryan Taylor told Reuters. He did not elaborate on how Palantir would do that.

Still, Palantir’s stock was up too much considering fourth-quarter profitability was driven by “below the line” adjustments like interest income and the quarter itself was in-line with expectations, RBC analyst Rishi Jaluria said.

See also  Small Business Optimism Soars To Highest Level In 6 Years Ahead Of Trump’s Return

The company forecast 2023 revenue between $2.18 billion and $2.23 billion, below the $2.29 billion estimated by analysts, according to Refinitiv.

Revenue from newly public firms that use Palantir’s services has taken a hit as economic uncertainty torpedoes the market for U.S. stock listings. That revenue is expected to nearly halve in the first quarter to $16 million from a year earlier.

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.

Reporting by Chavi Mehta and Tiyashi Datta in Bengaluru; Editing by Shinjini Ganguli

: .

Expects Palantir profitable shares soar Year
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025

Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

China’s Belt and Road Initiative in Southeast Asia: The Next Decade

November 16, 2023

DermInfusions Lip Treatment Plumps & Revive Lips

August 8, 2023

Legendary Red Sox Knuckleballer Tim Wakefield Dies at 57

October 2, 2023

After 20 Years of Superstardom, Dwayne Johnson Still Has No Film Legacy

May 17, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

March bank failures show options tricky even when traders pick winners

April 9, 2023

CNN Host Torpedoes Biden-Harris Admin’s ‘Unsatisfying’ Economic Spin, Says ‘Trump Killing Her’ On This ‘Big Issue’

September 13, 2024

Joey Chestnut Wins Again, Defies Rain Delay to Defend Title at Nathan’s Fourth of July Hot Dog Eating Contest

July 5, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.