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Palantir Stock Surges on Record Earnings and Raised Full-Year Guidance
Palantir Technologies (NYSE: PLTR) stock surged 16.1% in pre-market trading after the company reported record second-quarter financial results that significantly beat analyst expectations and raised its full-year outlook.
A 'Record' Quarter
The data analytics software provider announced second-quarter revenue of $1.94 billion, a 93% increase year-over-year, comfortably exceeding the consensus analyst estimate of $1.81 billion. Adjusted earnings per share came in at $0.41, also ahead of the expected $0.34 to $0.35 per share. The company reported that its net income surpassed $1 billion for the first time.
Growth was particularly strong in the United States, where commercial revenue jumped 149% year-over-year to $764 million. The company's U.S. government segment also posted robust growth, with revenue climbing 90% to $809 million. In the earnings release, CEO Alex Karp described the quarter as "otherworldly."
AdUpgraded Outlook and Market Impact
Following the strong performance, Palantir issued what it called its largest-ever full-year guidance increase. The company now expects 2026 revenue in the range of $8.15 billion to $8.16 billion, up from a prior forecast of $7.65–$7.66 billion. Guidance for adjusted free cash flow was also raised to a range of $4.5 billion to $4.7 billion.
The powerful combination of a historic revenue beat and a sweeping guidance raise prompted a positive reaction from analysts, with D.A. Davidson upgrading the stock to a Buy. The results signal accelerating business momentum to investors, particularly in the private sector, as the company closed 220 deals worth over $1 million during the quarter.
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