Palantir Q2 revenue surges 93% to $1.94B, pre-market up 16%

Published Aug 4, 10:21 AM UTC

Palantir Technologies reported record second-quarter 2026 results, with revenue surging 93% year-over-year to $1.94 billion, beating analyst expectations of $1.81 billion. Adjusted earnings per share of $0.41 exceeded consensus estimates. The company's U.S. commercial revenue grew 149% to $764 million, while U.S. government revenue rose 90% to $809 million. Palantir achieved its first-ever quarterly net income above $1 billion. Management issued the largest annual guidance increase in company history, raising full-year 2026 revenue forecast to $8.15-$8.16 billion. The Rule of 40 score improved to 155%. CEO Alex Karp described the quarter as 'otherworldly' and predicted momentum could continue for at least 18 months. The stock rose 16.1% in pre-market trading, and D.A. Davidson upgraded the stock to Buy.