Palantir Technologies (PLTR) Soars as Quarterly Revenues Breaks Past $1-Billion Revenue Mark

We recently published 10 Stocks With Surprising Gains Amid Market Meltdown. Palantir Technologies Inc. (NASDAQ:PLTR) is one of the best-performing stocks on Tuesday.

Palantir extended its rally for a second day on Tuesday, rising 7.85 percent to close at $173.27 apiece as investor sentiment was bolstered by its impressive earnings performance, having cracked past the $1-billion revenue mark on a quarter basis.

In a statement on Tuesday, Palantir Technologies Inc. (NASDAQ:PLTR) said revenues in the second quarter of the year jumped by 48 percent to $1 billion from $678 million in the same period last year, pushing net income attributable to shareholders to expand by 144 percent to $326.7 million from $134 million year-on-year.

Revenues in the six-month period alone jumped by 44 percent to $1.89 billion from $1.31 billion, while net income attributable to shareholders increased by 126 percent to $540.7 million from $239.6 million year-on-year.

“This was a phenomenal quarter. We continue to see the astonishing impact of AI leverage,” said Palantir Technologies Inc. (NASDAQ:PLTR) co-founder and CEO Alex Karp.

For the third quarter, Palantir Technologies Inc. (NASDAQ:PLTR) expects revenues to hit $1.083 billion to $1.087 billion, while the full-year was pegged at $4.142 billion to $4.15 billion.