Palantir Q2 revenue beats expectations; raises outlook

Palantir Technologies

03/08/2026 21:14

Overview
U.S. data analytics platform's Q2 revenue grew 93% yr/yr, beating analyst expectations
Company raised FY 2026 revenue guidance to at least 82% yr/yr growth
Quarter driven by strong demand for AI sovereignty and large U.S. commercial contracts

Outlook
Palantir sees Q3 2026 revenue between $2.160 bln and $2.164 bln
Company raises FY 2026 revenue guidance to $8.150 bln – $8.158 bln
Palantir expects FY 2026 U.S. commercial revenue above $3.424 bln, at least 134% growth

Result Drivers
AI SOVEREIGNTY DEMAND - Co said surging demand for AI sovereignty drove strong revenue growth, with customers seeking greater control over data and operations, per CEO Alex Karp
U.S. COMMERCIAL CONTRACTS - Record-setting growth in U.S. commercial revenue and contract value, with U.S. commercial revenue up 149% yr/yr and U.S. commercial TCV up 153% yr/yr

Company press release: ID:nBw3ZswQqa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$1.94 bln
$1.80 bln (24 Analysts)
Q2 Net Income
 
$1.07 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Palantir Technologies Inc is $195.00, about 58.5% above its July 31 closing price of $123.06
The stock recently traded at 67 times the next 12-month earnings vs. a P/E of 93 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)