Data analytics firm Palantir (PLTR) has reported first-quarter financial results that surpassed Wall Street’s forecasts amid surging demand for its artificial intelligence-related products.
The Miami, Florida-based company announced earnings per share (EPS) of $0.33 U.S., which topped the $0.28 U.S. consensus expectation of analysts. The company’s profit quadrupled from a year ago.
Revenue in the period totaled $1.63 billion U.S., which beat the $1.54 billion U.S. expected on Wall Street. Palantir’s sales were up 85% from a year earlier.
It was the fastest increase in Palantir’s revenue since 2020, the year the company went public.
Palantir is best known for providing software, services and A.I. tools to the U.S. government for military operations and defense.
Revenue to domestic government agencies climbed 84% in the first quarter to $687 million U.S., while commercial revenue from U.S. clients totaled $595 million U.S., up 133% from a year ago.
Management raised their full-year guidance, saying they now expect $4.2 billion U.S. to $4.4 billion U.S. in free cash flow. That was above consensus estimates of $4.05 billion U.S.
Palantir also called for $1.8 billion U.S. in second-quarter revenue, above the $1.68 billion U.S. consensus among analysts.
For all of 2026, Palantir anticipates $7.65 billion U.S. to $7.66 billion U.S. in revenue, an annual increase of 71% and higher than the $7.27 billion forecast on Wall Street.
PLTR stock is down 13% this year and trading at $146.03 U.S. per share.
Tech Insider
