Palantir Q2 earnings beat forecasts, raises outlook

Palantir Technologies Inc. delivered a blockbuster second-quarter earnings report on Monday, August 3, 2026, shattering analyst expectations and raising its full-year outlook for the third consecutive quarter. The data analytics and artificial intelligence company’s stock surged more than 12% in after-hours trading following the announcement.

For the quarter ended June 30, Palantir reported revenue of $1.935 billion, a 93% increase from the same period last year and well above the $1.81 billion analysts had forecast. Adjusted earnings per share were 41 cents, beating the consensus estimate of 35 cents. The company’s net income attributable to common stockholders was $1.062 billion, more than triple the $326.7 million reported a year earlier.

The growth was driven by exceptional strength in the U.S. market. Commercial revenue in the U.S. soared 149% year-over-year to $764 million, while government revenue grew 90% to $809 million. The company closed 220 contracts valued at $1 million or more during the quarter, with total contract value reaching $3.373 billion, a 49% increase. U.S. commercial total contract value hit a record $2.132 billion, up 153%.