Palantir tops $1 billion in revenue for the first time, boosts guidance

Palantir surpassed $1 billion in quarterly revenue for the first time, beating Wall Street expectations and raising its full-year forecast. Revenue rose 48% year-over-year, with U.S. revenue up 68% and commercial U.S. revenue nearly doubling. Net income jumped 144% to $326.7 million. Palantir also secured a $10 billion U.S. Army contract and closed numerous large deals. Shares have more than doubled this year, pushing its market value past $379 billion and into the top 10 U.S. tech companies, CNBC has reported. CEO Alex Karp emphasized plans for high growth with fewer employees, though no layoffs were confirmed.