US data analytics specialist Palantir announced Monday that it had made money in a quarter for the first time since its inception in 2003. The company posted fourth-quarter net profit of $31 million and expects to be in the green for the full year. quarter. 2023, details a press release.
The stock took more than 20% in electronic trading after the close of the New York Stock Exchange. Incubated when it was started by the CIA, the company began by developing software for counterterrorism operations, seeking in particular to identify information by diving into databases.
voluntary discretion
Later he offered his services to other intelligence agencies and later to companies. In deep secrecy about his activities, Palantir entered Wall Street in September 2020. his voluntary discretion, particularly about the way he processes data or his collaboration with law enforcement, sometimes attract criticism.
For the full year 2022, Palantir posted revenue of $1.9 billion, up 24%, but remains in the red with a deficit of $374 million.
In a letter accompanying the results release, Mr. Karp highlighted “the relentless demand” for software from companies. “In our early days, many doubted our ability to become more than a provider of specialized software to a handful of government clients, let alone generate significant revenue from government clients. They were wrong,” he said. .
Source: BFM TV
