Palantir's second quarter revenue surges 93% and it lifts its full year outlook to $8.16 billion

US artificial intelligence and data analytics company Palantir Technologies said in results published on Monday 3 August 2026 that revenue for the quarter ended 30 June 2026 rose 93% year on year to $1.94 billion from $1 billion. According to Anadolu Agency, net income attributable to common shareholders more than tripled to $1.06 billion, and diluted earnings per share rose to $0.41 from $0.13.

US revenue climbed 115% to $1.57 billion, with US commercial revenue up 149% at $764 million and government revenue up 90% at $809 million. Palantir signed 220 contracts worth at least $1 million during the quarter, including 73 valued at $10 million or more. Total contract value rose 49% to $3.37 billion, while US commercial contract value jumped 153% to a record $2.13 billion.

The company raised its full year revenue forecast to between $8.15 billion and $8.16 billion, from an earlier range of $7.65 billion to $7.66 billion, and said it expects US commercial revenue to exceed $3.42 billion this year. Chief Executive Alex Karp attributed the performance to accelerating demand for what the company calls AI sovereignty. The shares rose more than 14% in after hours trading following the results.