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Palantir stock roars more than 20% higher after second straight earnings surprise

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Palantir executives called out benefits related to the growing interest in the development of AI, with CFO David Glazer citing “this massive potential for the AI opportunities sitting in front of us.”

Palantir Technologies Inc. delivered a surprise profit for the second quarter in a row Monday, while also topping revenue expectations, sending shares more than 20% higher in after-hours trading.

The software company reported first-quarter net income of $17 million, or 1 cent a share, whereas Palantir PLTR posted a loss of $101 million, or 5 cents a share, in the year-earlier quarter. Analysts tracked by FactSet were expecting a loss of a penny a share on a GAAP basis. The stock closed with a 4.7% gain at $7.76 in Monday’s...

 

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