{"id":260883,"date":"2025-11-04T11:04:12","date_gmt":"2025-11-04T11:04:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/260883\/"},"modified":"2025-11-04T11:04:12","modified_gmt":"2025-11-04T11:04:12","slug":"palantir-forecasts-fourth-quarter-revenue-above-estimates-as-ai-adoption-boosts-sales","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/260883\/","title":{"rendered":"Palantir forecasts fourth-quarter revenue above estimates as AI adoption boosts sales"},"content":{"rendered":"

Palantir Technologies PLTR-Q<\/a> forecast fourth-quarter revenue above analysts\u2019 estimates on Monday, as the rapid adoption of artificial intelligence boosts demand for its data analytics services from businesses and governments.<\/p>\n

Shares of the company gained about 2 per cent in extended trading.<\/p>\n

The defence contractor raised its annual sales target for the third time this year, amid strong sales for its services that ease the transition to the complex, data-intensive technology.<\/p>\n

Bombardier, Sweden\u2019s Saab in talks to build Gripen fighter jet in Canada<\/a><\/p>\n

McGuinty says budget will pave the way for Canada to hit defence spending pledge<\/a><\/p>\n

Palantir, co-founded by tech billionaire Peter Thiel, expects fourth-quarter sales of between US$1.327-billion and US$1.331-billion, compared with analysts\u2019 average estimate of US$1.19-billion, according to data compiled by LSEG.<\/p>\n

The company also raised its annual sales forecast to a range of US$4.396-billion to US$4.40-billion, from its earlier expectations of between US$4.142-billion and US$4.15-billion.<\/p>\n

Palantir last month announced a deal with Nvidia NVDA-Q<\/a> to use the AI chip leader\u2019s processors and software to help its customers speed up decision-making in complex fields.<\/p>\n

It now expects sales to U.S. businesses to exceed US$1.43-billion this year, up from the US$1.30-billion it forecast earlier.<\/p>\n

The results come at a crucial moment as big-ticket spending on AI expansion and skyrocketing market valuations have sparked concerns of an \u201cAI bubble.\u201d<\/p>\n

Palantir\u2019s shares have more than doubled in value this year, outpacing the gains in the world\u2019s most valuable firm \u2013 Nvidia \u2013 and the benchmark S&P 500 Index.<\/p>\n

The stock trades at a whopping 12-month-forward price-to-earnings ratio of 246.2, compared with Wall Street darling Nvidia\u2019s 33.3, according to LSEG data.<\/p>\n

Palantir\u2019s results have also been buoyed by expectations of increased defence spending on its military-grade AI tools.<\/p>\n

The company, initially backed by the CIA, is benefiting from a shift in the Pentagon\u2019s software-buying process towards commercial providers under President Donald Trump.<\/p>\n

Palantir reported revenue of US$1.18-billion for the quarter ended Sept. 30, beating estimates of US$1.09-billion. Adjusted per share earnings of 21 US cents also beat estimates of 17 US cents.<\/p>\n","protected":false},"excerpt":{"rendered":"Palantir Technologies PLTR-Q forecast fourth-quarter revenue above analysts\u2019 estimates on Monday, as the rapid adoption of artificial intelligence…\n","protected":false},"author":2,"featured_media":260884,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[62,901,276,277,888,902,879,877,903,49,48,876,895,896,891,878,875,46,549,295,894,887,914,880,881,893,889,890,884,904,885,909,910,912,907,911,905,908,882,898,899,714,897,906,865,61,900,892,886,883,913],"class_list":["post-260883","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-alberta","tag-artificial-intelligence","tag-artificialintelligence","tag-arts-news","tag-bc","tag-breaking-news","tag-breaking-news-video","tag-british-columbia","tag-ca","tag-canada","tag-canada-news","tag-canada-sports","tag-canada-sports-news","tag-canada-trafficcanada-weather","tag-canadian-breaking-news","tag-canadian-news","tag-economy","tag-education","tag-environment","tag-federal-government","tag-foreign-news","tag-globe-and-mail","tag-globe-and-mail-breaking-news","tag-globe-and-mail-canada-news","tag-government","tag-life-news","tag-lifestyle","tag-local-news","tag-manitoba","tag-national-news","tag-new-brunswick","tag-newfoundland-and-labrador","tag-northwest-territories","tag-nova-scotia","tag-nunavut","tag-ontario","tag-pei","tag-photos","tag-political-news","tag-political-opinion","tag-politics","tag-politics-news","tag-quebec","tag-sports-news","tag-technology","tag-travel","tag-trudeau","tag-us-news","tag-world-news","tag-yukon"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/260883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=260883"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/260883\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/260884"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=260883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=260883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=260883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}