Palantir Jumps After Reporting Record Quarterly Sales Growth

Palantir Technologies Inc. reported its biggest-ever quarterly sales growth since the company went public, citing the “astonishing impact” of artificial intelligence technology on its business.

Second-quarter revenue jumped 48% to more than $1 billion, the company said in a statement Monday. The data software company also raised its sales outlook for the full year to a range of $4.14 billion to $4.15 billion, exceeding analysts’ prior expectation of $3.91 billion.

Palantir shares rose as much as 9.8% to $176.33 after markets opened in New York on Tuesday, marking an all-time high. Denver-based Palantir has seen its stock price surge more ...