Palantir raises annual revenue forecast as AI software demand from US government surges 84%

Palantir tops first-quarter revenue estimates on strong US government demand

May 4 (Reuters) - Palantir Technologies (PLTR.O), opens new tab beat Wall Street estimates for first-quarter revenue on Monday, driven by rising demand for its data analytics software from the U.S. government and commercial clients. The company reported revenue of $1.63 billion for the quarter ended March 31, beating analysts' average estimate of $1.54 billion, according to data compiled ⁠by LSEG. Revenue from U.S. commercial customers jumped 133% to $595 million, while revenue from U.S. government customers rose 84% to $687 million in the first quarter. Palantir's U.S. government segment sells data analytics and AI software to defense and intelligence agencies, while its U.S. commercial business provides enterprise AI platforms ⁠that help corporations integrate data and automate operational decisions. The company's Maven AI system will become an official program of record for the Pentagon, Reuters reported in ⁠March, locking in long-term use of the company's weapons-targeting technology across the U.S. military. "The United States remains the ⁠center, the constant core, of our business. And that business is erupting," CEO Alex ⁠Karp said in a letter to shareholders on Monday. Reporting by Jaspreet Singh in Bengaluru; Editing by Sriraj Kalluvila Our Standards: The Thomson Reuters Trust Principles., opens new tab

Palantir Boosts Outlook on Booming AI Demand. CEO Alex Karp Says Its US Business Is 'Erupting'

Get personalized, AI-powered answers built on 27+ years of trusted expertise. Palantir's business is booming. Investors don't seem impressed. The data analytics software firm on Monday hiked its full-year revenue guidance to 71% growth, "driven by our confidence in an accelerating U.S. market," said CEO Alex Karp in a release after the market closed. The company's U.S. business is now seen growing 120% this year, on strong demand for its flagship Artificial Intelligence Platform. Palantir posted adjusted earnings of $0.33 on revenue that soared 85% year-over-year to $1.63 billion in the first quarter. Both figures topped analysts' estimates compiled by Visible Alpha, as the company's U.S. business more than doubled. Karp said that business is "erupting." Despite the better-than-expected results and rosy outlook, Palantir shares were down about 1% in recent after-hours trading. "We are in a category of our own," Karp said in a letter to shareholders Monday, writing that Palantir's record results "demonstrate a level of strength that dwarfs the performance of essentially every software company in history at this scale." Palantir shares have lost roughly 30% of their value since hitting an all-time high in December. The stock remains up 18% over the past 12 months.

Palantir lifts annual revenue forecast on robust US government demand - The Economic Times

Palantir Technologies raised its annual revenue forecast and beat estimates for quarterly results on Monday, a sign of growing demand for its data analytics software from the U.S. government and commercial clients. The rising adoption of artificial intelligence tools in modern warfare has boosted demand for software platforms developed by companies such as Palantir that help ⁠defense departments ⁠analyze data and make real-time targeting decisions. Palantir's Maven AI system, a command-and-control software platform that analyzes battlefield data and identifies targets, is set to become an official program of record for the Pentagon, locking in long-term use across the U.S. military. The company now expects fiscal 2026 revenue to be between $7.65 billion and $7.66 billion, compared with its prior expectations of $7.18 billion to $7.20 billion. "The ⁠United States remains the center, the constant core, of our business. And that business is erupting," CEO Alex Karp said in a letter ⁠to shareholders on Monday. Palantir's U.S. government segment sells data analytics and AI software to defense and intelligence agencies, while its U.S. commercial business provides enterprise AI platforms that help corporations integrate data and automate operational decisions. Revenue rose 85% to $1.63 billion for the first quarter ended March 31, exceeding LSEG-compiled analysts' average estimate of $1.54 billion. Palantir said its revenue from U.S. commercial customers jumped 133% to $595 million, while revenue from U.S. government customers rose 84% to $687 million. The company reported adjusted earnings per share of 33 cents in the first quarter, beating estimates of 28 cents. Shares of ⁠the company were down 1.5% in extended trading. The stock has fallen around 18% this year. Chief Financial Officer David Glazer reiterated on a post-earnings call that the company's expenses are expected to ramp up in 2026 "as we remain committed to investing in the product plan and the most elite technical talent." Last month, Palantir secured a $300 million contract with the U.S. Department of Agriculture. The company forecast second-quarter revenue of $1.797 billion to $1.801 billion, above estimates of $1.68 billion.

Palantir raises annual revenue forecast on strong US government demand

May 4 (Reuters) - Palantir Technologies raised its annual revenue forecast on Monday and beat estimates for quarterly results, a sign of rising demand for its data analytics software from the U.S. government and commercial clients. The growing use of artificial intelligence tools in modern warfare has boosted demand for software platforms developed by companies such as Palantir that help defense departments analyze data and make real-time targeting decisions. Palantir now expects fiscal 2026 revenue to be between $7.65 billion and $7.66 billion, compared with its prior expectations of $7.18 billion to $7.20 billion. The company also raised its annual expectations for U.S. commercial revenue to more than $3.22 billion, compared with its earlier outlook of $3.14 billion. Palantir's U.S. government segment sells data analytics and AI software to defense and intelligence agencies, while its U.S. commercial business provides enterprise AI platforms that help corporations integrate data and automate operational decisions. "The United States remains the center, the constant core, of our business. And that business is erupting," CEO Alex Karp said in a letter to shareholders on Monday. Revenue of $1.63 billion for the quarter ended March 31 exceeded LSEG-compiled analysts' average estimate of $1.54 billion. Its revenue from U.S. commercial customers jumped 133% to $595 million, while revenue from U.S. government customers rose 84% to $687 million. The company reported adjusted earnings per share of 33 cents in the first quarter, beating estimates of 28 cents. Shares of the company were up nearly 1% in extended trading. Palantir's Maven AI system will become an official program of record for the Pentagon, Reuters reported in March, locking in long-term use of the company's weapons-targeting technology across the U.S. military. Last month, the company secured a $300 million contract with the U.S. Department of Agriculture. The company forecast second-quarter revenue of $1.797 billion to $1.801 billion, above estimates of $1.68 billion. (Reporting by Jaspreet Singh in Bengaluru; Editing by Sriraj Kalluvila)

Palantir tops first-quarter revenue estimates on strong US government demand

May 4 (Reuters) - Palantir Technologies beat Wall Street estimates for first-quarter revenue on Monday, driven by rising demand for its data analytics software from the U.S. government and commercial clients. The company reported revenue of $1.63 billion for the quarter ended March 31, beating analysts' average estimate of $1.54 billion, according to data compiled by LSEG. Revenue from U.S. commercial customers jumped 133% to $595 million, while revenue from U.S. government customers rose 84% to $687 million in the first quarter. Palantir's U.S. government segment sells data analytics and AI software to defense and intelligence agencies, while its U.S. commercial business provides enterprise AI platforms that help corporations integrate data and automate operational decisions. The company's Maven AI system will become an official program of record for the Pentagon, Reuters reported in March, locking in long-term use of the company's weapons-targeting technology across the U.S. military. "The United States remains the center, the constant core, of our business. And that business is erupting," CEO Alex Karp said in a letter to shareholders on Monday. (Reporting by Jaspreet Singh in Bengaluru; Editing by Sriraj Kalluvila)