‘This quarter was otherworldly’: Palantir earnings surge past expectations

Palantir reported a 93% year-over-year revenue increase to $1.94 billion in Q2, surpassing Wall Street expectations and driving a 10% stock surge. US government contract revenue grew 90%, and the company raised its full-year revenue forecast to over $8.15 billion. CEO Alex Karp highlighted strong commercial growth and emphasized customer preference for data control over large language model providers.