Here's why Palantir stock is soaring today

Core Insights - Palantir's stock experienced a significant rally, increasing by 6.95% from $147.78 to $158.05 in the extended session, reversing an earlier decline of 11.97% year-to-date [1][2] Financial Performance - The company reported a quarterly revenue of $1.41 billion, exceeding the Wall Street consensus forecast by approximately $80 million [2] - Earnings per share (EPS) reached $0.25, surpassing the anticipated $0.23, marking a nearly 9% increase [3] - For the fiscal year, Palantir achieved a total revenue of $4.48 billion, reflecting a 70% year-over-year growth [5] Government Contracts - Government contracts contributed significantly to revenue, with $570 million generated from public sector clients in the latest quarter [6] - CEO Alex Karp noted that U.S. government demand has become so substantial that some orders for allies had to be postponed, which has positively influenced the stock rally [6] Future Projections - Palantir anticipates revenue growth to approximately $1.53 billion in the next quarter, projecting a total fiscal year revenue of $7.19 billion [9] - If the annual guidance is realized, it would represent a 15.59% increase over the analyst consensus of $6.22 billion and a yearly revenue increase of 60.49% [10]