Palantir Stock Is Hitting New Highs: What's Going On?

Palantir Technologies Inc (NYSE:PLTR) shares are making new highs on Tuesday after the company reported strong quarterly results driven by “unrelenting” AI demand.

Q3 Revenue: $725.52 million, beating the consensus estimate of $701.13 million

Q3 EPS: 6 cents, versus estimates of 4 cents

Palantir reported 30% year-over-year revenue growth in the quarter propelled by continued strength in the U.S. The company said U.S. revenue grew 44% year-over-year as U.S. Commercial revenue jumped 54% and U.S. Government revenue climbed 40% year-over-year.

The company beat analyst estimates on the top and bottom lines for the fifth consecutive quarter as margins expanded for the eighth straight quarter, and the company guided for continued GAAP operating income and net income in each quarter this year.

Customer count grew 39% year-over-year and 6% on a quarter-over-quarter ...