Palantir’s Q2 revenue surged 93% to $1.94 billion, beating estimates and lifting Broadcom shares on AI growth expectations.
Broadcom (NASDAQ: AVGO) shares climbed 6.1% after Palantir Technologies reported stronger-than-expected Q2 results, signaling robust AI demand. Palantir’s revenue jumped 93% year over year to $1.94 billion, surpassing estimates of $1.81 billion, while adjusted EPS rose 156% to $0.41.
The U.S. commercial segment led growth, with revenue up 149% to $764 million, driven by demand for its Artificial Intelligence Platform. U.S. government revenue also rose 90% to $809 million. Investors view Palantir’s performance as a proxy for Broadcom’s AI-related prospects ahead of its Q3 earnings on Sept. 2.
Broadcom expects Q3 revenue to increase 84% to $29.4 billion, with adjusted EBITDA up 87% to $20 billion, reflecting continued AI-driven momentum.