Palantir Technologies Inc. (PLTR) saw a 7.85% increase in stock price on Tuesday, closing at $173.27 per share. The company reported a 48% revenue jump in Q2, reaching $1 billion, with net income growing by 144% to $326.7 million year-on-year.

In the first six months of the year, Palantir’s revenues surged by 44% to $1.89 billion, and net income attributable to shareholders rose by 126% to $540.7 million year-on-year. CEO Alex Karp praised the quarter as “phenomenal” and highlighted the impact of AI leverage on the company.

Palantir Technologies Inc. (PLTR) anticipates third-quarter revenues to range from $1.083 billion to $1.087 billion, and full-year revenues are projected at $4.142 billion to $4.15 billion. Investors are advised to explore other AI stocks with potentially higher returns and less downside risk, as per the latest market trends.

Read more at Yahoo Finance: Palantir Technologies (PLTR) Soars as Quarterly Revenues Breaks Past $1-Billion Revenue Mark