PalantirSoftware and analytical tools are made by, which is a software company that provides services to large companies and the government. reported third-quarter earningsOn Tuesday, revenue exceeded analyst expectations and earnings were above analysts’ estimates.

Premarket trading on Tuesday saw shares rise as much as 5%

This is how the company performed compared to analyst expectations.

• EPSBased on Refinitiv: 4 Cents adjusted to 4 Cents
• Revenue According to Refinitiv, $392 Million vs. $385 Million Estimated

Palantir saw its revenue rise 36% to $392million year-over-year. This is a decrease from the 49% growth in the previous quarters, however the company still provided strong forecasts for this quarter. Palantir expects that revenue will be $418 million. This is higher than the current Refinitiv estimate of $402million

According to the company, revenue is estimated at $1.53 trillion or 40% increase year-over year. Palantir stated that its annual revenue growth is expected to be 30% by 2025.

Palantir supplies government agencies with data analytics software. The company was started by Joe Lonsdale and Peter Thiel in 2003. The company went public last September through direct listing at the New York Stock Exchange. It had more than $44 Billion in market capital as of Nov. 8.

U.S. Government agencies, such as the Department of Defense, are some of Palantir’s most notable clients. Palantir sought diversification in recent years and experienced a surge of demand during the Pandemic. This was because countries were looking for information on their health. In July, Palantir’s Department of Health and Human Services became operational. renewed an agreement with PalantirTo track the delivery of vaccines, you can use their software.

Palantir stated that the U.S. Commercial Revenue grew by 103% over the past year and that its number of commercial customers increased 46% compared to the prior quarter. Palantir did not separate government revenue.

Palantir added 33 net new customers to its third quarter, and completed 33 deals in excess of $5 million and 18 deals exceeding $10 million.