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Palantir shares jump 30% after Q2 revenue surge and raised guidance
Palantir reported $3.34 billion total contract value, up 49% year over year, with U.S. commercial revenue reaching $764 million.
Palantir Technologies shares jumped 30% on Aug. 4 after the company delivered a strong Q2 earnings report following the market close on Aug. 3, closing out one of its best sessions since 2024. MarketBeat Ratings linked the rally to investors increasingly focusing on Palantir’s performance rather than treating it as part of a broader AI trade.
The company said overall revenue rose 93% year over year, while its Rule of 40 score climbed to 155. Adjusted free cash flow was $1.22 billion, and it reported a 63% margin, alongside 220 deals of at least $1 million and 73 deals of at least $10 million.
Palantir also reported total contract value, or TCV, of $3.3373 billion, up 49% year over year. U.S. commercial revenue grew 149% year over year and 28% quarter over quarter to $764 million, which analysts highlighted as a surprise in the report, according to MarketBeat Ratings.
On guidance, Palantir raised its outlook for the rest of the year, continuing a pattern it has maintained for several quarters. MarketBeat Ratings said the market appears to be responding more directly to the strength of Palantir’s commercial growth as the results come in.