Palantir\u2019s share price jumped 8 percent Tuesday morning after the software analytics firm reported massive revenue growth last quarter.\u00a0<\/p>\n
The company posted a 48 percent year-over-year increase in revenue for the three-month period between April and June, crossing $1 billion for the first time. <\/p>\n
\u201cAs usual, I\u2019ve been cautioned to be a little modest about our bombastic numbers, but honestly there\u2019s no authentic way to be anything but have enormous pride and gratefulness about these extraordinary numbers,\u201d Palantir CEO Alex Karp said on a Monday evening earnings call. <\/p>\n
U.S. commercial revenue nearly doubled, rising 93 percent to $306 million, while U.S. government revenue ticked up a strong 53 percent to $426 million. In the U.S. overall, the company saw 68 percent year-over-year growth. <\/p>\n
\u201cThis is a perfect time for a revolution in the United States of America,\u201d Karp added. \u201cWe are very, very bullish on America. We have some really crucial and important clients internationally … but this is an American revolution.\u201d <\/p>\n
Palantir expects another $1 billion in revenue next quarter for an anticipated $4.1 billion in revenue for the full year. <\/p>\n
The strong earnings call marks the latest in a series of wins for the company, which recently scored a contract with the U.S. Army worth $10 billion over the next decade. <\/p>\n
It is the most recent tech firm to show off strong quarterly results as the artificial intelligence (AI) boom continues. <\/p>\n
Microsoft\u2019s stock popped last week after reporting $75 billion in annual revenue from its cloud computing platform Azure, briefly pushing the company\u2019s valuation above $4 trillion. It is only the second company to cross the historic threshold, following Nvidia\u2019s lead last month. <\/p>\n
Microsoft, Meta, Google and Apple all promised new capital spending, as the pricey push to build out AI infrastructure continues. <\/p>\n","protected":false},"excerpt":{"rendered":"
Palantir\u2019s share price jumped 8 percent Tuesday morning after the software analytics firm reported massive revenue growth last quarter.\u00a0 The company posted a 48 percent year-over-year increase in revenue for<\/p>\n