Palantir tops estimates on 85% revenue growth, fastest expansion since market debut in 2020

Palantir reported first-quarter results on Monday that sailed past analysts' expectations, and also issued guidance that topped estimates. Here's how the company did compared to analyst estimates as compiled by LSEG: Earnings per share: 33 cents adjusted vs. 28 cents expected Revenue: $1.63 billion vs. $1.54 billion expected Palantir's revenue grew about 85% in the quarter, according to a statement , marking the fastest increase in sales since at least 2020, the year the company went public through a direct listing. Net income roughly quadrupled to $870.5 million, or 34 cents per share, from $214 million, or 8 cents per share, a year earlier. Adjusted net income excludes impact from stock-based compensation and income taxes. Palantir, which has seen its market value soar in the past few years, also lifted its full-year guidance. The company now anticipates $4.2 billion to $4.4 billion in adjusted free cash flow, above StreetAccount's $4.05 billion consensus. In February, the company said it was looking for adjusted free cash flow between $3.925 billion and $4.125 billion. "Our financial results now demonstrate a level of strength that dwarfs the performance of essentially every software company in history at this scale," Palantir CEO Alex Karp wrote in a letter to shareholders. Revenue per employee reached $1.5 million on an annual basis, Karp wrote. …