Shares of Palantir Technologies Inc. soared 27% on Monday following the release of its latest earnings report. The company posted better-than-expected numbers and raised its full-year guidance for 2023.
"We were profitable again this quarter," Alexander C. Karp (pictured), Chief Executive Officer of Palantir Technologies Inc., wrote in a letter to shareholders. "In addition, for the first time in our history, we earned an operating profit last quarter...The arrival of the latest large language models, which have provided the world with the first real hints of more generalizable forms of artificial intelligence, will transform enterprise software."
During after-hours trading at 4:20 pm ET, Palantir shares jumped 27.39% to sell for $9.86.
