Palantir Technologies ( PLTR ) shares are trading higher today. Last week, the company reported first-quarter financial results and issued soft guidance. 

Revenue rose 21% year-over-year to $634 million, which beat the consensus estimate of $625.431 million, according to Benzinga Pro. Palantir ( PLTR ) reported adjusted EPS of $0.08, which was in line with analyst estimates. The company has now delivered six straight quarters of GAAP profitability.

Palantir ( PLTR ) expects second-quarter revenue to be between $649 million and $653 million versus the current street view of $651.21 million. Earlier last week, the analyst consensus was $653.25 million, marking the company’s second-quarter forecast slightly below the street view.

Recently, the company also raised its full-year 2024 guidance for revenue of $2.677 billion-$2.689 billion (vs. current estimates of $2.701 billion). Earlier, when the company announced its first-quarter results, the analyst estimate for full-year revenue was $2.71 billion.

Palantir ( PLTR ) also raised its U.S. commercial revenue outlook to more than $661 million, representing growth of at least 45%. 

The company expects the U.S. commercial business, which accounted for 24% of the revenue last quarter, to remain one of the most significant growth drivers in the near term.

Palantir ( PLTR ) aims to make its Artificial Intelligence Platform (AIP) the most dominant infrastructure in the market and drive the effective deployment of artificial intelligence and large language models across institutions.  

Related: AI Revolution ‘On the Doorstep:’ The ‘Tidal Wave’ Is Well Underway, Analyst Says

Several analysts raised the price target on the stock following the earnings release.

Also Read: Government Surveillance Contractor Palantir’s AI Tactics Under Microscope By Wall Street Analysts: Must ‘Demonstrate’ Growth To Justify Valuation

Price Action: PLTR shares are up 2.29% at $21.42 at the last check Tuesday.

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