(CercleFinance.com) – Palantir soars this Thursday on the New York Stock Exchange after reporting a new quarter of profitability and raising its forecasts for the current financial year.
The Denver group, specializing in data analysis, announced this morning that it had posted a fourth consecutive GAAP profit, with a profit of $72 million in the third quarter.
This is the best net profit ever achieved by the company, created 20 years ago.
Broken down per share, its earnings per share (EPS) stood at $0.03, a level below the consensus which targeted $0.06, while turnover increased by 17% to $558 million.
In its press release, the company emphasizes, however, that its average income per employee now stands at $558,000 per year, compared to $299,000 at the end of 2019.
Palantir also raised its annual forecasts, now expecting annual revenue between $2,216 million and $2,220 million for adjusted operating income ranging from $607 million to $611 million.
The technology group also specifies that it expects to be profitable in terms of net profit under GAAP standards for its entire 2023 financial year.
The stock also benefited from the prospect of its upcoming integration into the S&P 500, the benchmark index for American investors.
“With these results, our company is now eligible for entry into the S&P 500, a step that we are working to achieve and that we believe is within our reach,” underlined its CEO Alex Karp.
Buoyed by these elements, Palantir shares climbed 17% on Thursday on the New York Stock Exchange.
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