Shares of Palantir pop as it reports first profitable quarter

Shares of Palantir popped much than 14% successful extended trading Monday aft the institution released fourth-quarter earnings that bushed analysts' estimates connected apical and bottommost lines.

Here's however the institution did:

• EPS: 4 cents adjusted vs. 3 cents expected by analysts, according to Refinitiv
• Revenue: $509 cardinal vs. $502 cardinal expected by analysts, according to Refinitiviv.

Palantir's gross for the 4th accrued 18% twelvemonth implicit year, and its U.S. commercialized gross grew 12%. The bundle company, which is known for its enactment with the government, said its US commercialized lawsuit number accrued 79% twelvemonth implicit year, increasing from 80 customers to 143.

The institution besides reported its archetypal ever 4th of affirmative nett income connected a GAAP basis, astatine $31 million.

"With this result, Palantir is profitable," CEO Alex Karp said successful the release. "This is simply a important infinitesimal for america and our supporters."

Palantir said it expects to study betwixt $503 cardinal and $507 cardinal successful gross during its archetypal quarter.

The institution volition clasp its quarterly telephone with investors astatine 5:00 P.M. ET Monday.