Palantir reported Q2 revenue of $1.94 billion, up 93% YoY, and raised FY2026 revenue guidance to $8.15 billion.
Palantir Technologies (NASDAQ:PLTR) shares jumped 16% to $145.50 after reporting Q2 revenue of $1.94 billion, a 93% year-over-year increase, surpassing the $1.81 billion consensus. Adjusted EPS reached $0.41, marking the ninth consecutive beat.
The company’s U.S. commercial business saw revenue grow 149% YoY to $764 million, with total contract value hitting a record $2.1 billion. Palantir also raised its FY2026 revenue guidance to $8.15 billion, up from prior expectations, while Deutsche Bank upgraded the stock to Buy with a $200 price target.
The rally remained isolated to Palantir, with peers like C3.ai and UiPath failing to participate. The NASDAQ 100 rose 1.05% in broader market trading, but Palantir’s gains stood out after a 29% YTD decline before earnings.