US-based data analytics firm Palantir Technologies shares surged 22% in extended trading after reporting fourth-quarter earnings and revenue that surpassed Wall Street estimates.

The company expects revenue between US$858 million and US$862 million for Q1, exceeding estimates of US$799 million.

For the full year, Palantir projects sales of US$3.74 billion to US$3.76 billion, higher than the US$3.52 billion forecast.

CEO Alex Karp credited much of the growth to Palantir’s use of AI, highlighting the company’s growing role in the AI revolution.

Revenue for the quarter rose 36% year-over-year, with US commercial sales growing 64% and US government revenue increasing 45%.

Palantir expects US commercial sales to reach US$1.08 billion in 2025.

Recent Palantir developments