Palantir Technologies Raises Outlook as AI Demand Surges in U.S.

This article first appeared on GuruFocus.

Palantir Technologies (PLTR, Financials) lifted its 2024 revenue guidance following a robust first quarter, driven by increasing demand from U.S. government and commercial clients.Revenue increased 85% to $1.63 billion, exceeding analyst projections of $1.54 billion. Adjusted earnings were 33 cents per share, beating expectations of 28 cents.The company now sees 2026 revenue at $7.65 billion to $7.66 billion, from its previous outlook of $7.18 billion to $7.20 billion.U.S. government revenue rose 84% to $687 million while U.S. commercial revenue rose 133% to $595 million. Palantir’s U.S. business remains its center, CEO Alex Karp said.The results reflect sustained demand for Palantir’s AI and data analytics technologies, especially in defense and corporate industries.Now investors will be watching to see if the company can continue to develop while spending more on products and technical skills.