Palantir Technologies (PLTR) delivered third-quarter earnings well above analyst expectations, sending shares higher in extended trading Monday.
The analytics software provider reported revenue of $725.52 million, up 30% year over year and above expectations of analysts polled by Visible Alpha. Net income of $143.53 million or 6 cents per share, compared with $71.51 million or 3 cents per share a year earlier, better than expectations.
The company’s US commercial revenue grew 54% to $179 million. Palantir CEO Alexander C. Karp said the strong results were “driven by relentless demand for AI.”
The company said it expects fourth-quarter revenue of $767 million to $771 million, and raised its full-year forecast to revenue between $2.805 billion and $2.809 billion, up from $2.742 billion to $2.75 billion previously.
Shares of Palantir rose more than 11% in extended trading after the release. They were up 141% this year through Monday’s close.
