Palantir Stock Surges on Earnings Beat Driven By AI Platform Demand [Video]

Palantir Technologies (PLTR) shares jumped in extended trading Monday after the company reported better-than-expected quarterly results and lifted its full-year guidance on strong demand for its Artificial Intelligence Platform (AIP).

The company reported second-quarter revenue of $678.13 million, a 27% jump year-over-year and ahead of analysts’ estimates compiled by Visible Alpha. Net income of $134 million also beat projections, with earnings per share reaching a record high of 6 cents.

Palantir CEO Alex Karp said the strong results reflected the “unbridled demand for and understanding of the capabilities of our software.”

The company’s commercial revenue grew 33% to $307 million, with U.S. commercial sales up 55% to $159 million.

“The growth of our business has been re-accelerating steadily, and we see an unprecedented opportunity ahead to capture and build on that momentum,” Karp said.

The company said it anticipates third-quarter revenue of between $697 million and $701 million, ahead of analysts’ projections, and lifted its …