Palantir Technologies Inc. (NYSE:PLTR) is set to unveil its first-quarter 2024 financial results on May 6, post-market hours.
Projections suggest a notable year-on-year uptick in the company’s revenue for the reported quarter, propelled by robust business from both existing and new clientele, thus fortifying its Government and Commercial segments. The current Consensus Estimate for total revenues is $614.9 million, indicating a 17.1% surge from the corresponding quarter last year.
Breaking it down, the consensus estimate for Government revenues stands at $326 million, signifying a 12.9% year-over-year escalation. Palantir’s persistent efforts in sectors like healthcare and defense are poised to significantly bolster the Government segment’s performance in the quarter under review.
On the other hand, Commercial revenues are forecasted to reach $289 million, showcasing a 22.5% year-over-year rise. This growth trajectory is attributed to contributions from both new and existing clients, alongside expansions. Palantir has witnessed expansion across various industries, which has notably contributed to its Commercial segment’s growth.
In summary, Palantir’s first-quarter earnings report is anticipated to reflect a robust top-line performance driven by strong demand across its Government and Commercial segments.
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