$Palantir (PLTR.US)$ PLTR's second-quarter revenue outlook e...

PLTR's second-quarter revenue outlook exceeds expectations
Palantir Technologies Inc.'s stock price rose on Monday, surpassing the software company's latest earnings report, but those gains were erased in extended trading after the results were announced.
However, Palantir boosted the continued strong momentum of its artificial intelligence platform, known as AIP, on Monday.
The software company now expects full-year revenue of $26.77 billion to $26.89 billion, compared to its previous forecast of $26.52 billion to $26.68 billion. The revenue forecast for the second quarter was between $649 million and $653 million, which surpassed the agreed forecast of $643 million.
Palantir also expects adjusted operating profit of US$868 million to US$880 million for the full year, compared to the previous forecast of US$834 million to US$850 million.
CEO Alex Karp said in a letter to shareholders: “The growth of the American corporate sector is now increasingly seeking us, and they know more than ever how artificial intelligence and big language models will reshape their industry.”
The outlook for this increase comes after Palantir beat expectations in the first quarter. The company reported revenue of $634 million, compared to $525 million in the same period last year, while analysts tracked by FactSet estimated $615 million.
Net income was $106 million, or 4 cents per share, compared to $17 million and 1 cent per share for the same period last year. This marks six consecutive quarters of Palantir's GAAP profit. Analysts expect earnings of 3 cents per share.
After adjustments, the company reported earnings of 8 cents per share, in line with FactSet's consistent expectations.
Palantir's software stands out in the field of generative artificial intelligence. While other artificial intelligence software mainly focuses on chat applications, Palantir's products use big language models to drive operational results based on customer data.
The company's US commercial division (not including the impact of strategic investments) grew 68%. It's worth noting how customers are doing more, faster.
Meanwhile, Palantir's US government business grew 12% compared to the same period last year, increased 8% compared to the previous quarter, and is undergoing a re-acceleration phase. PLTR's “clearly impactful” Titan agreement with the US Army opens up a “whole new world of opportunity” for the company in the US government.
When it won the Army award, Palantir became the first software company to win a master contract for a hardware system.