Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Palantir Technologies Inc (NYSE:PLTR) shares are making new highs on Tuesday after the company reported strong quarterly results driven by “unrelenting” AI demand.

• Q3 Revenue: $725.52 million, beating the consensus estimate of $701.13 million

• Q3 EPS: 6 cents, versus estimates of 4 cents

Palantir reported 30% year-over-year revenue growth in the quarter propelled by continued strength in the U.S. The company said U.S. revenue grew 44% year-over-year as U.S. Commercial revenue jumped 54% and U.S. Government revenue climbed 40% year-over-year.

Don’t Miss:

• This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100.

• Your biggest returns may not come from the stock market. Invest the way colleges, pension funds, and the 1% do.Benzinga Readers: Earn a 1% return boost on your first EquityMultiple investment when you sign up here (Accredited Investors Only)*.

The company beat analyst estimates on the top and bottom lines for the fifth consecutive quarter as margins expanded for the eighth straight quarter, and the company guided for continued GAAP operating income and net income in each quarter this year.

Customer count grew 39% year-over-year and 6% on a quarter-over-quarter basis. The company said it closed 104 deals worth over $1 million during the quarter.

“The growth of our business is accelerating, and our financial performance is exceeding expectations as we meet an unwavering demand for the most advanced artificial intelligence technologies from our U.S. government and commercial customers," Alex Karp, co-founder and CEO of Palantir, said in a letter to shareholders.

Check This Out: These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends

Guidance: Palantir sees fourth-quarter revenue in the range of $767 million to $771 million, versus estimates of $741.44 million. The company also raised full-year guidance across its key metrics.

Palantir now expects full-year revenue in the range of $2.805 billion to $2.809 billion versus estimates of $2.759 billion, and full-year U.S. commercial revenue in excess of $687 million, representing growth of at least 50%. The company now expects adjusted free cash flow to be in excess of $1 billion for the year.

"We absolutely eviscerated this quarter, driven by unrelenting AI demand that won't slow down. This is a U.S.-driven AI revolution that has taken full hold. The world will be divided between AI haves and have-nots. At Palantir, we plan to power the winners," Karp said.