Palantir reported better-than-expected revenue and profit, driven by growth in sales to U.S. government agencies.
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Palantir
reported first-quarter results on Monday that sailed past analysts’ expectations, and also issued guidance that topped estimates.
Here’s how the company did compared to analyst estimates as compiled by LSEG:
Palantir’s revenue grew about 85% in the quarter, according to a statement, marking the fastest increase in sales since at least 2020, the year the company went public through a direct listing.
The rise comes on the back of months of decline for the stock.
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The data analytics and defence software firm projected revenue in the range of US$4.14 billion to US$4.15 billion for 2025.
Since going public in 2020, the artificial intelligence software company has swung swiftly to a profit and sales are booming.
