Palantir records 49% profit growth
Investors are giving Palantir the attention it deserves after the company’s report for the first quarter show a 49% profit growth.
Software and analytics tools producing company, Palantir Technologies, has released its report for the first quarter, declaring an impressive $341 million as its net profit.
Wall Street predicted that Palantir was going to make a net profit of $332.2 million but a 49% increase rate in profit growth led them to do more than was predicted.
Before now, Palantir Technologies shares had been plunging, causing investors to consider selling their stocks but following the company’s first quarter report release, its shares have surged by more than 7%.
Palantir Technologies has predicted a net profit of $360 million in the second quarter of 2021 as well as a 30% annual profit growth from 2021 to 2025.