Palantir beats on revenue but gives lower-than-expected guidance

Palantir, the defense tech firm, announced its first-quarter earnings, exceeding revenue expectations. The company’s earnings per share (EPS) came in line with estimates. However, Palantir offered weaker-than-expected guidance for the full year. Despite this, the company continues to achieve GAAP profitability for the sixth consecutive quarter. Additionally, Palantir secured a $178 million contract with the U.S. Army earlier this year for the development of a next-generation sensor station. After the earnings announcement, Palantir’s shares dropped approximately 5% in after-hours trading.