Palantir shares slip premarket despite posting record revenue in third quarter By Investing.com
Update: 2025-11-04
Description
Palantir, a data analytics and defense software company, reported impressive Q3 results with a net profit of $475.6 million on $1.18 billion in sales, exceeding Wall Street expectations. Despite this, shares plummeted 6% in after-hours trading. The company's CEO, Alex Karp, highlighted its increased profitability and predicted higher sales due to growing AI technology demand, particularly from government clients like the IRS and State Department. However, concerns arise as Palantir's stock price has surged 175% in 2023, making it expensive compared to traditional measures, with analysts divided on whether its advances justify its price.
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