Palantir shares jumped 23% on Tuesday and headed for a record close after the data analytics software maker reported robust third-quarter results and issued uplifting revenue guidance.
If the gain holds, it will mark the stock's biggest jump since Feb. 6, when shares popped 30%.
Revenue climbed 30% to $726 million from a year earlier, topping the $701 million average analyst estimate, according to LSEG.
Net income of $143.5 million, or 6 cents per share, was up from $71.5 million, or 3 cents per share, in the same quarter a year ago.
Palantir is targeting more than $687 million in U.S. commercial revenue for the year, implying about 24% of the total.
Persons:
Alex Karp, Palantir, LSEG, Jordan Novet, Michael Bloom
Organizations:
Palantir, Bloomberg, Revenue, Deutsche Bank, Bank of America
Locations:
Palo Alto , California