(News Bulletin 247) – Palantir unveiled quarterly results yesterday evening showing a slowdown in its growth, which led to a drop of more than 8% of its title on Tuesday on Wall Street.
The American software company, specializing in data mining, announced Monday that it was profitable for a third consecutive quarter.
In its second quarter, the group posted a net profit of $28 million according to GAAP accounting principles, compared with a net loss of $179 million a year earlier.
The company says it generated revenue up 13% to $533 million.
Jefferies analysts, however, point to performances that are not impressive according to them.
‘The growth of its commercial revenues decelerated to 10% year-on-year (vs. +15% in the first quarter) while its government revenues increased by 15% (vs. 20%) in the first quarter’, they point out.
Investors’ attention also focused on the group’s new artificial intelligence platform (AIP), again with some reservations.
“We believe that Palantir is well positioned to carry out AI deployment projects for its customers, although it will take patience before the company seizes this new opportunity”, complete the analysts of Mizuho.
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