Why Palantir Technologies Stock Skyrocketed on Tuesday
Shares of Palantir Technologies (NASDAQ: PLTR) charged out of the gate on Tuesday, spiking as much as 27.7%. As of 10:59 a.m. ET, the stock was still up 25.4%.
The catalyst that sent the artificial intelligence (AI) software and data mining specialist soaring was the company's quarterly financial report and bullish commentary from management that suggests the AI revolution has much further to run.
In the fourth quarter, Palantir generated revenue that accelerated to 36% year over year (and 14% sequentially) to $828 million. This resulted in adjusted earnings per share (EPS) of $0.14, which soared 75%.
Source Fool.com
