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Palantir revenue jumps 93% as US contracts surge
The company raised its third-quarter revenue outlook to $2.160bn to $2.164bn and expects continued growth over the next two quarters.
Palantir reported a sharp earnings beat, with yearly revenue rising 93% year over year to $1.94bn for the second quarter, topping Wall Street’s expectation of $1.8bn, according to the Guardian Business. The results drove an about 10% jump in the company’s share price immediately after the announcement.
Revenue strength was tied to government and commercial demand. Palantir said revenue from US government contracts grew 90% year over year to $809m, while US commercial revenue surged 149% year over year, as highlighted by CEO Alex Karp.
Looking ahead, Palantir expects growth to continue over the next two quarters and forecast third-quarter revenue of $2.160bn to $2.164bn. The company also raised its full-year revenue guidance to between $8.150bn and $8.158bn, compared with its prior range of $7.65bn to $7.66bn for 2026.
The Guardian Business also noted that while analysts see evidence of customers staying committed, uncertainty remains around whether AI could eventually replace parts of the software layer Palantir provides. The outlet added that Palantir’s CEO argued in shareholder materials and interviews that partners and customers want to maintain control over access to AI systems.