Palantir Technologies Inc. shares ran up on Monday ahead of the software company’s latest earnings report, but they were giving back those gains in the extended session after the results came out. Shares of Palantir were off about 8% in after-hours trading Monday,

Key Takeaways Palantir Technologies reported better-than-expected earnings and revenue for the first quarter. However, shares fell in extended trading Monday as the big data analytics software maker's guidance failed to impress amid reports that investors may have been looking for more.

Defense-tech and AI firm Palantir reported earnings that beat analyst expectations on revenue, but also issued weaker-than-hoped for full-year guidance.

For its first quarter that ended on March 31, Palantir reported adjusted earnings per share of eight cents, up from five cents in the same quarter of last year, on revenue of $634.3 million, up 21% year-over-year.