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Palantir shares jump after AI results amid Gaza-linked scrutiny
Revenue rose 93% year over year, driven mainly by US commercial sales, which climbed 149% to $764 million.
Palantir reported what it called “otherworldly” second-quarter results, sending its shares up 12% in after-hours trading, despite ongoing criticism tied to the company’s ties to the US and Israel during the West Asia conflict, according to LiveMint Markets.
The company said revenue climbed 93% from about $1 billion a year earlier, and net income rose to $1.07 billion, or 41 cents per share, versus about $329 million, or 13 cents per share, in the year-ago quarter.
LiveMint Markets also reported that US government revenue grew 90% year over year to $809 million. It added that US commercial revenue surged 149% to $764 million, and that international government business related to Israel-related contracts accounted for less than 10% of quarterly revenue.
An expert cited by LiveMint Markets argued the situation is not simply a referendum on ethics, saying Palantir’s sector classification as a software company can keep it from typical ESG exclusions designed for weapons manufacturers, and that focusing only on Gaza misses that broader business mix.