Palantir posts soaring Q2 revenue and lifts outlook amid AI boom

In its second-quarter results, Palantir delivered revenue that surged 93% year over year to $1.94 billion, outpacing the $1.801 billion analysts had anticipated. Net income reached approximately $1.1 billion, translating to earnings of 41 cents per share versus the consensus estimate of 35 cents. The company attributed the surge to robust demand in the United States, where commercial revenue climbed 149% and government revenue rose 90% from the prior year.

CEO Alex Karp said the business is compounding at a scale never before seen, noting that the quarter’s net profit exceeded the total revenue generated in the previous year. Palantir issued an upbeat outlook, forecasting third-quarter revenue of $2.160-$2.164 billion and adjusted operating income of $1.292-$1.296 billion, while lifting its full-year 2026 revenue target to $8.150-$8.158 billion. Following the announcement, the stock jumped 13% in after-hours trading to $142.01.