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Palantir Stock Surges after Q4 report

Against all the odds, Palantir reported a $33.5 million profit for the fourth quarter!

Shares of Palantir Technologies are surging Tuesday after the data-analysis company recorded its first profitable quarter and flagged a boost to growth from artificial intelligence.

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WSJ news on Palantir Q4 report

Palantir stock recently stood about 16% higher, putting it on course for its biggest single-day percentage gain since January 2021.

Late Monday, the company said fourth-quarter net income totaled $33.5 million, on revenue up 18% at a forecast-beating $508.6 million. It forecast annual sales in 2023 could reach as much as $2.23 billion.

Palantir stock has gained 15% or more on six trading sessions, all of which were either in 2020 or 2021, Refinitiv data shows. Its largest one-day gain to date was on Jan. 22, 2021, when it surged 25%.

The stock remains a long way below the peak reached a few months after its September 2020 listing, however. Palantir shares reached a record closing high of $39 in January 2021.