Palantir Technologies reported second-quarter 2026 revenue of $1.2 billion, a 36% increase year-over-year, surpassing analyst expectations. The company's stock jumped more than 14% in after-hours trading following the announcement on August 3, 2026.
The growth was driven by strong demand for its AI platforms, particularly in the U.S. commercial sector, which saw revenue rise 54% to $372 million. Government revenue grew 25% to $828 million, with U.S. government contracts up 34%.
CEO Alex Karp highlighted the company's "otherworldly" growth, noting that the company has now posted 11 consecutive quarters of revenue growth exceeding 30%. Palantir raised its full-year 2026 revenue guidance to $4.7 billion, up from previous guidance of $4.6 billion.
The results come amid ongoing criticism over Palantir's contracts with the Israeli military, which some human rights groups have protested. However, the company's financial performance has remained robust, with net income of $210 million for the quarter, up from $134 million a year earlier.
