Why Is Everyone Talking About Palantir Stock?
Today, the world is saturated in data; more than 90% of the world's data has been created in the past two years. Data science company Palantir Technologies (NYSE: PLTR) went public in late 2020, perfectly timing society's efforts to better use all the data we create each day. Palantir was initially a one-trick pony, relying on government contracts for revenue, but that could be changing. Here are three reasons Palantir's second-quarter 2021 results have the investing world talking.
When Palantir went public last year, 76% of its revenue was generated from government customers. This heavy reliance on federal funds was a key risk for investors. Palantir's Q2 2021 earnings went a long way toward addressing concerns that the company is overly reliant on government contracts.
Palantir's commercial customer count grew 32% in Q2 from the prior three months, indicating that it's successfully getting new prospects into its programs. This is continued momentum from the beginning of the year; the company has increased its commercial customer count 61% since Dec. 31, 2020.
Source Fool.com
