Palantir Technologies reported stronger-than-expected Q2 earnings and revenue, marking its 12th consecutive quarter of accelerating growth.
Palantir Technologies (PLTR) shares surged nearly 30% to $162.67 in midday trading after exceeding Wall Street’s Q2 earnings and revenue estimates. The company’s AI software demand drove a 12th straight quarter of accelerating revenue growth, while U.S. commercial growth also reaccelerated.
Analysts had anticipated softer results amid competition from OpenAI and Anthropic, but Palantir’s performance defied expectations. The stock’s rally erased much of its recent losses, reflecting renewed investor confidence in its AI-driven business model.
The broader market saw gains, with the Dow Jones index flirting with 54,000 as geopolitical optimism and strong earnings from Caterpillar and Palantir lifted sentiment.