Palantir Reports 85 Percent Revenue Growth in First Quarter

Palantir reported first-quarter revenue that grew 85 percent from a year earlier, surpassing analyst expectations as demand for its artificial intelligence tools increased. The company said revenue from domestic government agencies climbed 84 percent to $687 million. Commercial revenue from U.S. clients totaled $595 million, up 133 percent from a year ago.

The company raised its full-year 2026 revenue guidance to between $7.65 billion and $7.66 billion. Second-quarter revenue is expected to reach $1.8 billion. Remaining performance obligations stood at $4.45 billion at the end of March, up from $1.9 billion a year earlier. The company counted 1,007 commercial customers over the trailing 12 months, a 31 percent increase.

Corning announced a long-term partnership to strengthen U.S. manufacturing for AI infrastructure. Pre-market trading showed broad gains among technology stocks. Shares of AMD rose 21 percent after the company beat earnings estimates and issued better-than-expected guidance.

Corning shares gained 15 percent following the NVIDIA partnership announcement. Google parent Alphabet rose 1.6 percent after Anthropic committed to spend $200 billion with Google Cloud over five years.

Other companies reported mixed results.

CVS Health shares gained 5 percent after the company surpassed Wall Street estimates and raised its full-year profit forecast. Uber shares increased 10.5 percent on a strong outlook that offset quarterly metrics. >"Our financial results now demonstrate a level of strength that dwarfs the performance of essentially every software company in history at this scale." — Company letter to shareholders