Palantir Posts First Profitable Quarter. The Stock Soars.

Palantir Technologies


shares are soaring in late trading Monday after the company posted better-than-expected results for the fourth quarter, including its first-ever GAAP profit.

The data-analytics software company expects to stay in the black in 2023, as it tightens spending. Palantir (ticker: PLTR) said it is reaching sustained GAAP profitability about two years ahead of its internal expectations.