Palantir Technologies raised its revenue and income forecasts for the full year after posting second-quarter sales that far exceeded Wall Street¡¯s estimates, describing commercial demand for its data analytics tools as ¡°otherworldly.¡±
The company now expects $4.89 billion to $4.91 billion in adjusted income from operations this year, up from $4.45 billion at the top end of the range previously. The software developer and major military vendor projected as much as $8.16 billion in sales, above estimates of roughly $7.7 billion on average.
Palantir Chief Executive Officer Alex Karp said U.S. commercial sales in the second quarter were ¡°staggering,¡± rising 149% from a year earlier to $764 million, well above the average analyst estimate of $716.4 million.
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