Palantir soars 12% on blowout quarter, with U.S. commercial revenue soaring nearly 150%
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- Palantir topped Q2 estimates with adjusted EPS of 41¢ vs. 35¢ expected and revenue of $1.94B vs. $1.80B expected, sending shares up 12% in the after-hours session
- U.S. commercial revenue surged 149% YoY to $764M and has compounded 380% since 2024, with remaining deal value more than doubling to $6.24B
- U.S. government revenue grew 90% YoY to $809M; net income hit $1.07B (41¢/share) versus ~$329M (13¢/share) a year earlier
- Palantir raised full-year revenue guidance to $8.15B–$8.16B from prior $7.65B–$7.66B and bumped 2026 U.S. commercial guidance to "in excess of" $3.42B
- CEO Alex Karp told CNBC "no business at our scale has even grown half this much" and predicted growth will continue "for at least another 18 months"
- Despite the beat, Palantir shares remain down 29% year-to-date amid broader concerns that the AI software trade is "running out of steam"
Why it matters: The 149% U.S. commercial surge and raised 2026 guidance to over $3.42B directly counters the AI-trade-fatigue narrative — but the 29% YTD decline shows Wall Street needs more than one quarter to bet that Palantir's momentum isn't already priced in. Karp's 18-month growth claim is now the test investors will grade against.
