© Reuters. Palantir Says Helped Foil Plot To Topple German Government As It Eyes Profitable 2023: ‘We’ve Built Software That Actually Works’
Benzinga – Palantir Technologies Inc‘s (NYSE: PLTR) CTO said on the company’s fourth-quarter earnings call that its software helped thwart a plot to overthrow the German government.
What Happened: Listing notable 2022 achievements, CTO Shyam Sankar said Palantir software “foiled a plot to overthrow the German government, delivered $200 million of return to Tyson Foods, empowered companies through the energy crisis.”
“Our momentum stems from the fact that we have built software that actually works, not software that’s easier to sell.”
Palantir did not immediately respond to Benzinga’s request for comment on the details surrounding the event.
Why It Matters: In March 2022, Palantir signed a $26.2 million contract that gave federal and state police in Germany access to its two surveillance analytics tools, reported Business Insider.
The two tools, Gotham — aimed at law enforcement — and Foundry — more a general-purpose software — were included in the framework agreement signed with the police, according to the report.
Palantir’s fourth quarter revenue of $508.62 million beat Street estimates of $502.25 million. This was a surprise as the company unveiled its first-ever profitable quarter, according to Benzinga data. It is guiding profitability in 2023.
Price Action: On Monday, Palantir shares spiked 16.8% in the after-hours trading to $8.88 after closing 1.2% higher in the regular session at $7.60, according to Benzinga Pro data.
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