U.S. commercial revenue surged 149% year-over-year, driving earnings above expectations and lifting full-year guidance.
Palantir reported second-quarter revenue of $1.94 billion, up 93% from $1 billion a year earlier and exceeding the $1.80 billion estimate. Adjusted earnings per share reached 41 cents, above the 35-cent consensus.
Net income rose to $1.07 billion, or 41 cents per share, compared with $329 million, or 13 cents per share, in the prior-year period. U.S. commercial revenue soared 149% to $764 million, while government revenue grew 90% to $809 million.
The company raised its 2026 U.S. commercial revenue target to over $3.42 billion from $3.22 billion. Shares climbed 8% following the release, though the stock remains down 29% year-to-date.