Palantir Technologies reported Q2 revenue of $1.94 billion, beating estimates and driving a 26% stock gain on Tuesday.
Palantir Technologies (NASDAQ: PLTR) stock rose 26.3% after reporting Q2 revenue of $1.94 billion, a 93% year-over-year increase and 19% sequential growth. Adjusted earnings per share reached $0.41, surpassing analyst estimates of $1.81 billion and $0.35, respectively.
The company’s Artificial Intelligence Platform (AIP) drove U.S. commercial revenue up 149% to $764 million, outpacing U.S. government revenue growth of 90%, which hit $809 million. Gross profit margin expanded to 84.7% from 80.8% in the prior year, reinforcing strong operational performance.
The results marked the 12th consecutive quarter of accelerating growth, easing concerns about an AI slowdown and defying skeptics who questioned the sustainability of Palantir’s momentum.