Palantir raises annual revenue forecast again on surging AI demand
The data analytics and defense software firm projected revenue in the range of $4.14 billion to $4.15 billion for 2025, up from its earlier forecast of between $3.89 billion and $3.90 billion.
The raised forecast is also above analysts' average estimate of $3.90 billion, according to data compiled by LSEG.
Palantir, which was initially backed by the CIA, has capitalised on its expertise in managing and analysing data to help train and run new AI apps using its platforms.
Its shares have more than doubled in value this year, far outpacing the 6% gain for the benchmark S&P 500, as investors bet on its ability to benefit from the proliferation of AI technology and government spending on defense tech.
Palantir, co-founded by tech billionaire Peter Thiel, said it now expects revenue derived from U.S. businesses to come in above $1.30 billion, up from its earlier guidance of more than $1.18 billion.
They nearly doubled to $306 million in the June quarter. The business is closely watched as the company works to cut its reliance on government contracts.
Sales to the U.S. government jumped 53% to $426 million, representing more than 42% of total second-quarter revenue of about $1 billion, which beat estimates.
Last week, the U.S. Army said it might purchase services of up to $10 billion from Palantir over a decade.
Palantir also forecast third-quarter sales above estimates.
The company's second-quarter adjusted earnings of 16 cents per share beat estimates of 14 cents.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
an hour ago
- Economic Times
Rupee closes at a record low for the third straight day at 87.80/$
The Indian rupee extended losses for a third consecutive session on Tuesday, closing at a fresh record low of 87.80 per dollar. ADVERTISEMENT The persistent weakness reflects sustained dollar demand from oil companies and importers, coupled with continued foreign portfolio investor (FPI) outflows from Indian equities, triggered by heightened trade tensions after US President Donald Trump threatened increased tariffs on Indian goods. The local currency closed 15 paise lower compared to Monday's close of 87.65 Ahead of the market open, the rupee traded weaker near 88 per dollar in offshore non-deliverable forwards (NDF). However, intervention by the Reserve Bank of India, through dollar sales, provided some support, enabling the currency to open firmer at 87.85. Despite this, the rupee slipped to an intraday low of 87.88, narrowly missing its all-time low of 87.95 recorded in February, according to LSEG said that the threat of rupee falling past the all-time low and crossing the 88 to a dollar-mark persists, given Trump's commentary of slapping higher tariffs on India for buying Russian oil.'US President Donald Trump's persistent tariff threats on India, outflows from domestic equity markets, panic buying by importers and DXY unable to find a clear direction are all adding to pressure on the rupee. Oil demand has been seen as well pushing the USDINR pair weaker,' said Kunal Sodhani, head of FX and rates treasury at Shinhan Bank India. ADVERTISEMENT The dollar index was down 0.3% at 98.96 on Tuesday, LSEG data showed. U.S. President Donald Trump on Monday again threatened to substantially raise tariffs on Indian goods, citing the country's continued purchases and resale of Russian oil, after announcing a surprise 25% tariff on Indian imports last response, India's foreign ministry said it would take 'all necessary steps' to protect national interests and economic security, escalating a trade row between the two countries. ADVERTISEMENT Traders would now be looking at RBIs rate decision due on Wednesday, where some participants expect a rate cut, but the majority expect a pause, according to an ET poll. For Wednesday, the rupee is expected to trade in the range of 87.50 to 88.25, traders said. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
an hour ago
- Time of India
Rupee closes at a record low for the third straight day at 87.80/$
The Indian rupee extended losses for a third consecutive session on Tuesday, closing at a fresh record low of 87.80 per dollar. The persistent weakness reflects sustained dollar demand from oil companies and importers, coupled with continued foreign portfolio investor (FPI) outflows from Indian equities , triggered by heightened trade tensions after US President Donald Trump threatened increased tariffs on Indian goods. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The local currency closed 15 paise lower compared to Monday's close of 87.65 Ahead of the market open, the rupee traded weaker near 88 per dollar in offshore non-deliverable forwards (NDF). However, intervention by the Reserve Bank of India, through dollar sales, provided some support, enabling the currency to open firmer at 87.85. Despite this, the rupee slipped to an intraday low of 87.88, narrowly missing its all-time low of 87.95 recorded in February, according to LSEG data. Dealers said that the threat of rupee falling past the all-time low and crossing the 88 to a dollar-mark persists, given Trump's commentary of slapping higher tariffs on India for buying Russian oil. Live Events 'US President Donald Trump's persistent tariff threats on India, outflows from domestic equity markets, panic buying by importers and DXY unable to find a clear direction are all adding to pressure on the rupee. Oil demand has been seen as well pushing the USDINR pair weaker,' said Kunal Sodhani, head of FX and rates treasury at Shinhan Bank India. The dollar index was down 0.3% at 98.96 on Tuesday, LSEG data showed. U.S. President Donald Trump on Monday again threatened to substantially raise tariffs on Indian goods, citing the country's continued purchases and resale of Russian oil, after announcing a surprise 25% tariff on Indian imports last week. In response, India's foreign ministry said it would take 'all necessary steps' to protect national interests and economic security, escalating a trade row between the two countries. Traders would now be looking at RBIs rate decision due on Wednesday, where some participants expect a rate cut, but the majority expect a pause, according to an ET poll. For Wednesday, the rupee is expected to trade in the range of 87.50 to 88.25, traders said.
Mint
2 hours ago
- Mint
Wall Street Today: Dow, Nasdaq, S&P 500 open higher as investors focus on optimism over potential US Fed rate cut
Wall Street Today: The US benchmark indices, the Dow Jones, Nasdaq, and S&P 500, open higher as investors focus on optimism over a potential US Fed rate cut and corporate earnings in the US markets. Investors are focusing their attention on an upcoming interest rate cut from the US Federal Reserve (Fed) on the backdrop of last week's US job data release. According to the US Bureau of Labour Statistics' latest data release, the total US nonfarm payroll employment data witnessed an addition of 73,000 jobs in July 2025. 'Employment continued to trend up in health care and in social assistance. Federal government continued to lose jobs,' according to the US jobs data release. At 9:30 a.m. (EDT), The Dow Jones Industrial Average rose 0.06% at the opening bell at 44,200.07 points, compared to 44,173.64 points at the previous US market close. Companies like Amazon Inc., Caterpillar Inc., Travelers Cos. Inc., 3M Co., Boeing Co., UnitedHealth Group Inc., Walmart Inc., American Express Co., Home Depot Inc., CiscoSystemsInc., Goldman Sachs Group Inc., Procter & GambleCo., Nike Inc., Merck & Co. Inc., Coca-Cola Co., Johnson & Johnson, NVIDIA Corp., JPMorgan Chase & Co., Honeywell International Inc., Verizon Communications Inc., Microsoft Corp., Sherwin-Williams Co. were among the gainers for the day. Other firms, such as International Business Machines Corp., Chevron Corp., Salesforce Inc., Walt Disney Co., McDonald's Corp., Apple Inc., Amgen Inc., and Visa Inc., were among the losers for the day. The S&P 500 index also opened 0.11% higher at 6,336.63 points, compared to 6,329.94 points at the previous stock market close. Companies like Axon Enterprise Inc., Palantir Technologies Inc., Leidos Holdings Inc., Intel Corp., Cummins Inc., Pfizer Inc., Broadridge Financial Solutions Inc., Archer Daniels Midland Co., Duke Energy Corp., and CarMaxInc. were among the gainers on Tuesday. Gartner Inc., Vertex Pharmaceuticals Inc., TransDigm Group Inc., Henry Schein Inc., Zebra Technologies Corp., Fidelity National Information Services Inc., Eaton Corp., ONEOK Inc., Diamondback Energy Inc., and BallCorp. were among the laggards of the day. The Nasdaq Composite index opened 0.18% higher at 21,092.097 points, compared to 21,053.58 points at the previous Wall Street close. Stocks like CaliberCos Inc., Solarmax Technology Inc., Y-mAbs Therapeutics Inc., Staar Surgical Co., Adaptimmune Therapeutics PLC ADR, Xometry Inc., A Ontrak Inc., Castle Biosciences Inc., Arteris Inc., and Origin Materials Inc. were among the gainers. Ichor Holdings Ltd, SMX (Security Matters) PLC, AYRO Inc., Nuwellis Inc., Snail Inc., Safe & Green Holdings Corp., zSpace Inc., Bollinger Innovations Inc., Vertex Pharmaceuticals Inc., and Lichen International Inc. were among the losers. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
