Palantir posts 85% revenue growth, beats Q1 estimates, raises full-year outlook

Palantir reported first-quarter revenue of $1.63 billion, an 85% increase year-over-year, surpassing analyst expectations. Net income quadrupled to $870.5 million, driven by strong growth in U.S. government contracts, which rose 84%. The company raised its full-year revenue guidance to $7.65-$7.66 billion and expects continued rapid growth, especially in its U.S. government and commercial sectors. CEO Alex Karp highlighted Palantir's strong financial performance and its strategic advantage in AI for defense applications.