Palantir Technologies Inc. revealed on Monday its revenue in the fourth quarter of the fiscal year 2024 saw an annual increase of 36% to reach $828 million, surpassing analyst's forecasts. The company's net income jumped by 10% compared to the same period in 2023 to hit $79 million. Meanwhile, its diluted earnings per share (EPS) landed at $0.03.
For the full 2024, revenue increased 29% year-over-year to $2.87 billion, net income improved by 16% to $462 million and EPS clocked in at $0.19. The software company projected its revenue in the first quarter of 2025 to stand between $858 million and $862 million. In addition, its revenue guidance for the full 2025 is expected to be between $3.741 billion and $3.757 billion.
"Our business results continue to astound, demonstrating our deepening position at the center of the AI revolution. Our early insights surrounding the commoditization of large language models have evolved from theory to fact," Chief Executive Officer of Palantir Alexander Karp noted.
