Palantir Generates Its First Profit. Is the Stock Finally a Buy?
The stock of Palantir Technologies (NYSE: PLTR) has been outpacing the market in 2023. Shares of the data mining and artificial intelligence (AI) company had already risen 30% this year at the time of publishing, and Palantir's financial results contained a couple of surprises that could drive the stock even higher in the months and years to come.
For the fourth quarter, revenue grew 18% year over year to $509 million, driven by robust government sales growth. This helped push net income into positive territory, marking the first time the company has generated a profit according to generally accepted accounting principles (GAAP). This resulted in earnings per share (EPS) of $0.01, or adjusted EPS of $0.04.
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Source Fool.com
