Palantir lifts annual revenue forecast on steady demand for AI-powered data analytics

The company's third-quarter revenue forecast of between $2.160 billion and $2.164 billion was above analysts' average estimate of $2 billion, according to data compiled by LSEG.

Second-quarter adjusted earnings were 41 cents per share, above estimates of 35 cents, while revenue rose 93% to $1.94 billion, beating expectations of $1.80 billion.

Palantir Technologies on Monday raised its annual revenue forecast again, signaling strong government and commercial demand for its data analytics software, sending its shares up 14% in extended trading.

Denver-based Palantir has increasingly been marketing military-grade AI tools to businesses through its artificial intelligence platform that helps companies integrate and develop the technology.