Palantir raises full-year guidance on AI boost

Palantir (PLTR) reported first quarter adjusted earnings per share of $0.08, which was in line with expectations. Revenue of $634 million was slightly better than the estimate of $615.8 million.

For the second quarter, Palantir sees revenue of $649 million to $653 million, which topped the $641.2 million estimate and adjusted operating profit of $209 million to $213 million, versus the $198.6 million estimate.

The company also raised its full-year revenue and adjusted operating profit guidance.

Yahoo Finance's Julie Hyman and Josh Lipton break down the company's quarterly results.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Stephanie Mikulich.

Video Transcript

Reporting first quarter results and shares are rising after the company raised its forecast, although not rising by that much interestingly full year revenue from the company now seen at 2.68 to $2.69 billion so it didn't raise it by much.The estimate is for $2.68 billion.So not, I should say.It's not as though the forecast is way above estimates here.Let's run through the first quarter numbers as well.Adjusted earnings per share.Eight cents, pretty much in line with estimates.First quarter revenue.$634 million which is just above the 6 $15.8 million that analysts have been anticipating and adjusted.IBA in the first quarter.$234.9 million above the $204.7 million that analysts were anticipating.The shares are now taking a little bit of a hit.Initially went up after that raised sales forecast, now a little bit lower, so we'll keep on track it, Um, but looking into the statement here, Josh, um, there was nothing that sort of stood out.The company you know, commercial has been a big initially.This company saw a lot of its revenue coming from government contracts and then was trying to really beef up the commercial side of its business.It does point out here in the statement, commercial revenue was up 40% year over year to 100 and $50 million.The customer count among commercial customers was up 69%.Um, so that's something that it is touting here.Government revenue, on the other hand, was up 16%.It's so much bigger.$335 million.Yeah, I think on the government side is interesting because kind of the tail ends of the business ahead there.They did announce that kind of contract with the Army called Titan commercials.Also really interesting, Julie, just because of the competitive dynamics there and how that plays out.But then, obviously, a big part of the story we're just talking to Schafer about this is is a I, a IP that's their artificial intelligence platform.And you can expect a lot of questions of the call about just what customer demand.And of course, monetization Looks like there.Yeah, it it is interesting again that, uh, we are not seeing a better reaction.The shares we're gonna keep on digging in.And speaking of digging in, we have an analyst that we're speaking to a little bit later on Rishi Gloria about these numbers, so maybe he can shed some light on the interception here.Well, you're part of it too.Remember the ramp into this print?It was up about 40% this year.200% in the last 12 months.So no, Rishi is great.So we we're lucky to have him.