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Home / Business / Palantir’s revenue exceeded expectations, and that’s what the Secret Data Company did

Palantir’s revenue exceeded expectations, and that’s what the Secret Data Company did



The secret big data company Palantir (PLTR) released its first earnings report after the close on Thursday, which exceeded analysts’ expectations for its third-quarter results.

Compared with the analysts’ expectations compiled by Bloomberg, this is the most important number in the announcement.

income: US$289 million, compared to US$279.3 million expected

Loss per share: $ 0.94

The company reported a 52% revenue growth for the quarter and increased its guidance for fiscal year 2020. After the announcement, the stock fell 4.7%.

Palantir provides big data analysis to the private and public sectors, giving organizations a deeper understanding of everything from the location of improvised explosive devices in war zones to how automakers can improve manufacturing processes.

But Palantir also saw its controversy. The amount of information that its software can track is very large-license plate numbers; social security numbers; social media accounts; addresses; bank records; interpersonal relationships-compared with the thought crime police in the “Minority Report”

;.

During the quarter, the company stated that “15 transactions were concluded with new and existing customers, each with a total contract value of more than $5 million, including contracts with the U.S. Army and the National Institutes of Health, as well as with one of the global The largest aerospace company has a total contract value of US$300 million in five years.”

Heavy reliance on government contracts

Analysts and investors are trying to determine what impact President-elect Biden’s management will have on defense spending going forward. Palantir, which works with the Ministry of Defense, relies heavily on its government sector business, and Bloomberg said it accounts for half of the company’s sales. The other half comes from Palantir’s private sector operations.

On September 30, 2020, on the day of the initial public offering (IPO) in Manhattan, New York City, USA, people walked on banners with slogans bearing the Palantir Technologies (PLTR) logo. REUTERS/Andrew Kelly
On September 30, 2020, on the day of the initial public offering (IPO) in Manhattan, New York City, USA, people walked on banners with slogans bearing the Palantir Technologies (PLTR) logo. REUTERS/Andrew Kelly

Divisions are divided by two different products that analyze data: Palantir Gotham and Palantir Foundry.

Palantir Gotham is a customization option that companies, government agencies, and law enforcement use it to combine large amounts of information and discover previously invisible patterns and identify data sets ranging from social media posts and addresses to license plate numbers and personal relationships. Relationship.

Foundry is an off-the-shelf option that focuses on customers from pharmaceutical and automotive businesses to airlines such as Airbus, and aims to reduce Gotham-related costs, such as requiring multiple field engineers.

The company is directed by billionaire co-founder and CEO Alex Karp. Like co-founder Peter Thiel, Culp graduated from Stanford Law School and has been running Palantir soon after it was founded. He has always believed that he believes that Silicon Valley companies need to cooperate with the US government and law enforcement agencies.

File-In a file photo on Wednesday, May 15, 2019, Palantir CEO Alex Karp arrives at the Tech for Good Summit in Paris. When Palantir Technologies Inc., a data mining company with close ties to US intelligence and military agencies, filed a Wall Street stock offering application on August 25, 2020 (Tuesday), it had already made many regulations on the confidentiality of its business trademarks.  (AP Photo/Thibault Camus, file)
File-In a file photo on Wednesday, May 15, 2019, Palantir CEO Alex Karp arrives at the Tech for Good Summit in Paris. When Palantir Technologies Inc., a data mining company with close ties to US intelligence and military agencies, filed a Wall Street stock offering application on August 25, 2020 (Tuesday), it had already made many regulations on the confidentiality of its business trademarks. (AP Photo/Thibault Camus, file)

Palantir said that its software has assisted companies and government agencies in completing everything from the conviction of Ponzi schemer Bernie Madoff, disaster recovery to combating cyber attacks and combating the exploitation of children. There is even a false story that the company’s technology was used to help find Usama bin Laden.

The company also claims that its software can help the US military track insurgents deploying improvised explosive devices (IEDs) in Afghanistan by detecting correlations between weather patterns, command line IED attacks, and biometric information found on explosive devices. More importantly, the company said it has provided software to the Salt Lake City Police Department that can help police officers reduce the time required to conduct complex investigations by 95%.

According to The Verge, Palantir used this predictive policing model in New Orleans. But predictive policing is controversial. According to research, it can lead to greater policing for ethnic minorities and low-income communities.

The company was also attacked by protesters and their employees for its cooperation with ICE. After denying that it cooperated with ICE’s deportation agency, Culp told CNBC in January 2020 that his company’s software was used to “discover undocumented people in our country.”

According to a Bloomberg report, in the past, Palantir lost many partnerships with fast-growing companies including Hershey’s, Coca-Cola, Home Depot and American Express due to the high costs of technology companies. However, so far, the company has not flinched, and continues to adhere to Karp’s policy.

The previous version of this post was published on September 28, 2020.

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