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Quarterly Performance
Palantir {{ m-tag option="price" ticker="PLTR" currency="USD" }} reported second-quarter revenue of $678.13 million, marking a 27% year-over-year increase and surpassing analysts' estimates compiled by Visible Alpha. Net income reached $134 million, with earnings per share hitting a record high of 6 cents.
Commercial Growth
The company's commercial revenue surged by 33% to $307 million. Notably, U.S. commercial sales skyrocketed by 55% to $159 million, highlighting significant traction in the domestic market. CEO Alex Karp emphasized the steady re-acceleration of the business and the unprecedented opportunities ahead.
Palantir's government revenue also grew substantially, rising 23% to $371 million and surpassing the $349 million estimates. This performance underscores Palantir's strong foothold in the government sector, which continues to be a significant revenue stream.
Future Outlook
Palantir anticipates third-quarter revenue to be between $697 million and $701 million, exceeding analysts' expectations. The company also raised its full-year guidance to a range of $2.74 billion to $2.75 billion, up from the previous forecast of $2.68 billion to $2.69 billion.
Stock Performance
Following the earnings announcement, Palantir's stock surged nearly 15% to $27.68 in extended trading. The stock continued its upward momentum in after-hours trading, reflecting strong investor sentiment and confidence in the company's prospects.
Palantir Technologies reported an exceptional second quarter, with revenue up 27% to $678 million and earnings per share reaching 6 cents. The stock soared 15% on these results, driven by strong commercial and government sales.
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