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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Planet Labs Stock Jumps 35% on Record Q3 Revenue Driven by AI Advancements, Acquisitions

Planet Labs PL Google United States
Planet Labs announced the acquisition of AI-enabled company Bedrock Research. (Credit: Pexels)

Planet Labs (NYSE:PL) shares soared 35% on Thursday after the company posted a record revenue and breakeven adjusted earnings for Q3.

The company recorded a 33% rise in Q3 revenue to $81.2 million (£60.6 million), up from $61.2 million (£45.7 million) a year earlier. It also posted breakeven adjusted income compared with a loss of $0.03 (£0.02) in the prior year quarter.

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