Palantir's U.S. Commercial Growth is Just the Start, CEO Says
Dow Jones
Aug 04
1728 ET - Palantir's U.S. commercial business grew 149% to $764 million during the second quarter, up 28% on a quarter-over-quarter basis. CEO Alex Karp says this is only the beginning. "While our U.S. commercial business is on fire, we believe it is nonetheless just nascent," Karp writes in a letter to shareholders following the company's second-quarter results. Notably, Karp adds, the results were achieved "with a miniscule and shrinking sales headcount, another way in which we have discarded conventional wisdom in favor of our own, unique path." Shares of Palantir gain 10% after-hours.
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