After the close of trading on Wall Street, Palantir Technologies presented its quarterly figures for the second quarter of 2024. The company, known as a beneficiary of Artificial Intelligence (AI), was able to significantly increase its revenues but missed analysts' profit expectations.

Palantir achieved earnings per share (EPS) of $0.06 in the second quarter, an increase from $0.01 in the previous year. However, analysts had expected higher earnings of $0.08 per share.

The company's revenue climbed from $533 million in the same period last year to $678 million. This exceeded analysts' expectations, who had estimated a revenue of $653 million.

The stock of Palantir, which is traded on the New York Stock Exchange (NYSE), reacted positively to the increase in revenue and rose by 14.00 percent in after-hours trading to $3.42.