Palantir reported strong financial results for the third quarter, beating estimates on the top and bottom lines. Its customer count rose 39% to 629, and the average existing customer spent 18% more. Revenue increased 30% to $726 million, marking the fifth consecutive acceleration, and non-GAAP net income increased 42% to $0.10 per diluted share.

Equity analyst Dan Ives has made a quite a few prescient calls in his career. In the last year alone, he predicted the Nasdaq Composite would hit 20,000, and he remained bullish on Palantir despite widespread skepticism.

From cloud computing to personal computers (PCs) to workplace productivity, Microsoft is well placed to capitalize on multiple AI-centric end markets. This tells us why CEO Satya Nadella remarked on the company's October 2024 earnings conference call that its "AI business is on track to surpass an annual revenue run rate of $10 billion next quarter,

Palantir delivered an encouraging financial performance in the third quarter. Its customer count increased 39% to 629, and the average existing customer spent 18% more. In turn, revenue jumped 30% to $726 million, the fifth straight sequential acceleration. Meanwhile, non-GAAP earnings soared 42% to $0.10 per diluted share.