Shares of Palantir (PLTR) are up 16% after the data analytics company announced third-quarter earnings that beat Wall Street forecasts and raised its full-year revenue guidance.
Palantir reported earnings per share (EPS) of $0.07 U.S. compared to $0.06 U.S. that was expected by analysts, according to data from LSEG, formerly known as Refinitiv.
Revenue in the quarter came in at $558 million U.S. versus $556 million U.S. that was anticipated. The company’s revenue rose 17% from a year earlier.
The results were helped by the fact that Palantir’s commercial revenue grew 33% year-over-year in Q3. Most of the company’s work continues to be with U.S. government agencies.
Palantir said that it expects to report between $599 million U.S. and $603 million U.S. in revenue during the current fourth quarter of the year.
The company raised its full-year revenue guidance to between $2.216 billion U.S. and $2.22 billion U.S. That’s up from previous guidance of $2.212 billion U.S. for all of this year.
Prior to today (Nov. 2), Palantir’s stock had gained 82% over the past 12 months to trade at $14.92 U.S. per share.
