Palantir's CEO calls 'woke' a 'central risk to Palantir, America and the world'
Analytics platform biz Palantir saw its share price dip yesterday despite posting on-the-nose revenue growth of 21 percent year-over-year to reach $634 million in the first calendar quarter.
The company — with its background in spy-tech — disappointed markets by nudging down growth expectations for the current year, while voluble CEO Alex Karp doubled-down on his pro-military, anti-woke agenda.
Growth was stronger in the commercial sector, at 27 percent year over year, compared with the government sector, which grew at 16 percent over the same period. Net income reached $106 million in the first quarter, up from $19 million a year earlier.
Palantir increased its revenue guidance for 2024 to between $2.68 billion and $2.69 billion. Although the figures are higher than earlier forecasts, investors clearly expected them to be higher still and let their feelings known with a seven percent dip in the share price.
Palantir was founded with the help of CIA-backed investment fund In-Q-Tel and it attracted a certain controversy by providing digital profiling tools for the CIA and US immigration agency ICE.
