Palantir Earnings Provide Hope For The Software Sector
Software stocks have taken a beating this year on fears that AI will erode pricing power across the industry. While the fear may be genuine for some companies, Palantir posted earnings that told a vastly different story. To wit, its CEO Alex Karp described Q2 earnings as "otherworldly." Palantir shares surged by nearly 30%, its largest single-day move in over a year. Its revenue jumped 93% year over year, led by U.S. commercial revenue growing 149%. Net income of $1.06 billion tripled the $327 million they earned last year. Guidance was equally encouraging as the company raised full-year…
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