Palantir stock jumps 19% as AI demand drives revenue beat

After reporting fourth-quarter earnings that exceeded analysts’ revenue expectations, Palantir shares saw a remarkable surge of over 19% in after-hours trading on Monday.

The full-year guidance for 2024 closely aligned with Wall Street’s estimates. Notably, fourth-quarter revenue experienced a 20% increase, reaching $608.4 million compared to $508.6 million the previous year.

Palantir reported a net income of $93.4 million, or 4 cents per share, contrasting with $30.9 million, or 1 cent per share, in the corresponding quarter of the prior year, CNBC reported.

READ MORE: https://www.cnbc.com/2024/02/05/palantir-pltr-earnings-q4-2023.html

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