#Palantir_Technologies lifted its forecast on annual guidance Monday after reporting quarterly revenue that topped #Wall_Street estimates as the big data analytics company’s new contract wins bossted performance amid the ongoing artificial intelligence boom.
Palantir Technologies Inc (NYSE:#PLTR) fell more than 7% in afterhours trading following the report.
In Q1, #Palantir reported adjusted earnings of $0.08 a share, up from $0.05 a a share a year earlier, while revenue was up 21% to $634.3 #million. That compared with analysts estimates for adjusted EPS of $0.08 on revenue of $615.3M.
The #climb in revenue was led by new contract wins, with commercial revenue up 27% to $299M and #government revenue rose 16% to $335M amid a 42% jump in the number of customers in the #quarter from a year earlier.
For #Q2, adjusted income from operations was guided between $209M to $213M on revenue in a range of $649M to $653M, which is above analyst forecasts for revenue of $642.9M.
Looking ahead, the company said it now expects its revenue for 2024 in a range of $2.68B to $2.69B, while adjusted operating income is expected to be $868M to $880M. That was up from a prior forecast for revenue between $2.65B to $2.67B.
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