Palantir Hits Profit Milestone, While Buffett Prepares Berkshire Exit

Published 6 hours agoPLTR

Palantir Hits Profit Milestone, While Buffett Prepares Berkshire Exit

Palantir Technologies has posted its fifth consecutive quarter of GAAP profitability, reporting a net income of $93 million for the fourth quarter of 2023. The company's revenue saw a 20% year-over-year rise, reaching $608 million for the same period. Notably, its U.S. commercial sector experienced a robust revenue boost of 70% year-over-year, pulling in $131 million. Moreover, Palantir's adjusted free cash flow stood at $305 million, making up a 50% margin.

Meanwhile, Warren Buffett has announced his retirement as CEO of Berkshire Hathaway by the end of 2025, after more than six decades of leadership. Greg Abel, who has been with the company since 1992 and was named as Buffett's successor in 2021, is set to take the reins. This transition brings mixed emotions among investors about the future of the $1.16 trillion company, with some expressing confidence in Abel's capabilities despite uncertain prospects without Buffett's legendary guidance.

Palantir's stock saw a notable rise of 6.98%, closing at $124.28 on May 3, 2025. Similarly, Berkshire Hathaway's stock increased by 1.75%, closing at $809,350. These stock movements reflect investor reactions to Palantir's strong financial performance and the anticipated leadership transition at Berkshire Hathaway. As Reuters outlined, these developments continue to shape investor sentiment and market dynamics.

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2 hours agoPLTR

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