Palantir Technologies Inc. (ticker: PLTR) released its Q1 2025 earnings after the market close on May 5. The stock experienced volatile after-hours trading, initially reaching new all-time highs around $130 before declining approximately 8%. Earlier in the day, Palantir shares climbed above $126 in overnight trading on Robinhood, nearly doubling from April lows. The stock's recent peak levels have drawn comparisons to previous all-time highs coinciding with the broader S&P 500 index's own record levels. Despite the price fluctuations, some investors remain uncertain about the company's business model. Palantir's earnings release was part of a broader earnings day that also included companies such as Hims & Hers Health Inc. (HIMS), Ford Motor Company (F), and Tyson Foods Inc. (TSN). The market also saw macroeconomic data releases including US ISM Services and employment trends on the same day.