Palantir posts blowout Q2 numbers, with U.S. commercial revenue soaring nearly 150%

Palantir topped second-quarter earnings on Monday and more than doubled commercial revenue growth from a year ago. The stock surged 8% after the numbers were released.

Here’s how the company did versus LSEG estimates:

* **Earnings per share:** 41 cents adj. vs. 35 cents expected
* **Revenue:** $1.94 billion vs. $1.80 billion expected

Revenue climbed 93% from about $1 billion a year ago. Palantir reported net income of $1.07 billion, or 41 cents per share, compared to about $329 million, or 13 cents per share in the year-ago quarter.

Palantir’s U.S. government revenue grew 90% from a year ago to $809 million. The company is widely known for selling its software to the U.S. government and military, but its commercial revenue has accelerated.

U.S. commercial revenue surged 149% from a year ago to $764 million and, when taking into account compounding, has jumped 380% since 2024. Palantir is now bracing for U.S. commercial revenue “in excess of” $3.42 billion in 2026, up from prior guidance of $3.22 billion.

The company said its remaining U.S. commercial deal value more than doubled from a year ago to $6.24 billion.

Palantir shares have lost 29% this year due to broadening concerns that the AI software trade is running out of steam and growth could slow.

The AI software company lifted full-year revenue guidance to between $8.15 billion and $8.16 billion from prior guidance of $7.65 billion to $7.66 billion.