Palantir stock popped more than 7% Tuesday after the software analytics provider lifted its full-year outlook, boosted by the artificial intelligence wave.
CEO Alex Karp called the earnings results a “once in a generation, truly anomalous quarter” during an earnings call with analysts.
“We’re very proud and we’re sorry that our haters are disappointed, but there are many more quarters to be disappointed, and we’re working on that too,” he added.
U.S. revenues grew 68% year over year $733 million, while U.S. commercial revenues nearly doubled from $306 million in the year-ago period.
Palantir’s U.S. government revenues rose 53% from the year-ago period to $426 million as the company continues to benefit from President Donald Trump‘s focus on efficiency.
The company’s revenues grew 48% and topped $1 billion in quarterly revenue for the first time ever. That surpassed the $940 million in revenues forecast by analysts polled by LSEG.
“‘I’ve been cautioned to be a little modest about our bombastic numbers, but honestly, there’s no authentic way to be anything but have enormous pride and gratefulness about these extraordinary numbers,” he said.
Adjusted earnings came in at 16 cents per share and ahead of the 14-cent-per-share estimate. Net income jumped 144% to about $326.7 million, or 13 cents per share. That’s up $134.1 million, or 6 cents per share a year ago.
Palantir also upped its full-year guidance.
The company now expects revenues to range between $4.142 billion and $4.150 billion. That’s up from its previous forecast calling for $3.89 billion to $3.90 billion.
WATCH: Palantir reports $1 billion in revenue for the first time
In this articlePLTRFollow your favorite stocksCREATE FREE ACCOUNTPalantir stock popped more than 7% Tuesday after the software analytics provider lifted its full-year outlook, boosted by the artificial intelligence wave.CEO Alex Karp called the earnings results a “once in a generation, truly anomalous quarter” during an earnings call with analysts.”We’re very proud and we’re sorry that our haters are disappointed, but there are many more quarters to be disappointed, and we’re working on that too,” he added.U.S. revenues grew 68% year over year $733 million, while U.S. commercial revenues nearly doubled from $306 million in the year-ago period. Palantir’s U.S. government revenues rose 53% from the year-ago period to $426 million as the company continues to benefit from President Donald Trump’s focus on efficiency.Read more CNBC tech newsNvidia’s set to regain some China access. But it still faces eroding AI chip market shareEthereum turns 10: From scrappy experiment to Wall Street’s invisible backboneGoogle has dropped more than 50 DEI-related organizations from one of its funding listsAmazon stock sinks after earnings: Here are the key takeawaysThe company’s revenues grew 48% and topped $1 billion in quarterly revenue for the first time ever. That surpassed the $940 million in revenues forecast by analysts polled by LSEG.”‘I’ve been cautioned to be a little modest about our bombastic numbers, but honestly, there’s no authentic way to be anything but have enormous pride and gratefulness about these extraordinary numbers,” he said.Adjusted earnings came in at 16 cents per share and ahead of the 14-cent-per-share estimate. Net income jumped 144% to about $326.7 million, or 13 cents per share. That’s up $134.1 million, or 6 cents per share a year ago.Palantir also upped its full-year guidance. The company now expects revenues to range between $4.142 billion and $4.150 billion. That’s up from its previous forecast calling for $3.89 billion to $3.90 billion.WATCH: Palantir reports $1 billion in revenue for the first timePalantir YTD stock chart.Adblock test (Why?)
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