The controversial US data analytics company Palantir expects 2023 to be its first profitable year. The company said the reason for the forecast was staff cost savings and the rise of artificial intelligence. Palantir shares then rose 15 percent in after-hours trading.
Due to weaker demand due to high inflation and lower customer spending, Palantir expects sales of just $2.18 billion to $2.23 billion this year, down from the $2.29 billion estimate by analysts.
Military and secret services as clients
For the fourth quarter, the company reported net profit attributable to common stockholders of $30.9 million, compared to a loss of $156.2 million in the prior year period.
The mysterious data company Palantir works for the US military, the CIA and other agencies. In addition, the company, which was co-founded in 2003 by German-born billionaire Peter Thiel – who now employs ex-chancellor Sebastian Kurz – also works for companies such as Ferrari and IBM.
Source: Krone
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