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Palantir Earnings Surge

Palantir beat expectations, lifted U.S. commercial revenue, and sparked a stock rally.

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Updated Aug 3, 8:27pm ET

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Palantir shares jumped about 12% after the company reported second-quarter revenue of $1.94 billion and adjusted EPS of 41 cents, above LSEG estimates of $1.80 billion and 35 cents. Revenue rose 93% from a year earlier, while U.S. commercial revenue climbed nearly 150% amid demand for its AIP platform. Palantir also raised its forecast for the coming months. CEO Alex Karp criticized frontier AI labs, saying enterprises should not have to hand over data and intellectual property to model makers.

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