Palantir Technologies posted a record first‑quarter, posting $1.63 billion in revenue, an 85% jump from a year earlier and well above Wall Street forecasts. The Denver‑based firm credited a surge in U.S. military contracts alongside expanding sales of its data‑analytics platform to large American enterprises. Investors rewarded the beat, nudging the shares up roughly 1% in after‑hours trade in the tech sector.

The quarter’s profitability surged as net income climbed to $876 million, four times the figure reported a year ago and comfortably beating analyst expectations. Strong demand from defense agencies, including deployments in Iran and Venezuela, has cemented Palantir’s role as a trusted supplier of mission‑critical software. Commercial significant momentum grew as Fortune 500 firms accelerated digital‑transformation projects that rely on Palantir’s AI‑enabled analytics.

Despite the upbeat results, the stock remains well below its late‑year peak, trading 18% higher than a year ago. The earnings beat underscores Palantir’s expanding footprint in both government and private sectors, suggesting that its high‑margin software can sustain growth even as broader markets wobble. The latest numbers reinforce the company’s position as a rare profit‑generating AI play.