Palantir Technologies Inc. shares dropped over 8% in after-hours trading despite surpassing revenue expectations in Q1 and increasing its full-year outlook.
For the fiscal Q1, Palantir reported adjusted EPS of 13 cents, revenue of $883.9 million, with U.S. revenue growing 55% year-over-year.
The company achieved its highest U.S. commercial contract value, new deals, and a 39% increase in customer count.
Palantir also announced partnerships and enhancements in AI technology, leading to an upgraded full-year revenue growth outlook of 36%.