Finance

Shares of the enterprise software maker skyrocketed following a standout quarterly financial report. The explosive growth was propelled by a massive 90% year-over-year increase in its U.S. commercial government revenue, prompting the company to raise its full-year guidance and soothe broader market concerns regarding AI profitability.

International crude benchmarks dropped significantly, with Brent futures falling over 5% to trade below $80 per barrel. The decline followed statements from Treasury Secretary Scott Bessent indicating that diplomatic negotiations are actively underway with Iran, raising investor hopes for a imminent deal to safely reopen the critical Strait of Hormuz.

Following its major initial public offering earlier this summer, the space and satellite conglomerate disclosed its first-ever quarterly earnings statement. Although total revenue rose 92% to hit $7.8 billion and outpaced expectations, shares slipped roughly 4% in extended trading as investors analyzed a net loss and heavy capital spending focused on artificial intelligence.