Palantir CEO: Business nearly doubled in 12 months; Q2 revenue up 93% YoY

Published Aug 7, 04:03 PM UTC

Palantir Technologies CEO Alex Karp declared that the company's business nearly doubled in 12 months, sparking a 29.5% stock surge. The company reported Q2 2026 total revenue of $1.935 billion, up 93% year over year, with U.S. commercial revenue soaring 149% to $764 million. GAAP net income reached $1.06 billion at a 55% margin, and adjusted EPS of $0.41 beat consensus. Palantir raised its full-year 2026 revenue guidance to $8.15 billion, the largest raise in company history. Karp called the quarter 'otherworldly' and predicted the growth pace would continue for at least 18 months. The results challenge the narrative that AI is killing enterprise software, suggesting instead that strong players are becoming untouchable.