Palantir (NASDAQ: PLTR) stock surged as much as 13% in after-hours trading Monday after the artificial intelligence and data analytics company reported second-quarter 2026 revenue, earnings, and guidance above Wall Street expectations.
Palantir Technologies posted revenue of $1.94 billion, up 93% from a year earlier, exceeding analysts’ consensus of approximately $1.81 billion. GAAP earnings per share (EPS) came in at $0.41, exceeding analysts’ estimate of $0.34 and marking the company’s ninth consecutive quarterly EPS beat.
Palantir Stock Gets a Lift From U.S. Growth
Palantir’s U.S. operations drove the company’s growth. Commercial revenue in the country climbed 149% year over year to $764 million, while U.S. government revenue rose 90% to $809 million. The gains reflected accelerating adoption of the company’s AIP platform and strong defense-related demand.
PLTR Stock Outlook Strengthens After Guidance Raise
Management raised its full-year 2026 revenue forecast to between $8.150 billion and $8.158 billion, up from its previous range of $7.650 billion to $7.662 billion.
Palantir also projected third-quarter revenue of $2.160 billion to $2.164 billion, compared with a consensus estimate of about $2.00 billion.
The results followed a series of favorable analyst calls. D.A. Davidson upgraded PLTR stock to “Buy” before the earnings release, citing improving profitability and a more reasonable valuation. Oppenheimer reiterated an “Outperform” rating with a $200 price target, while Rosenblatt maintained a “Buy” rating and a $225 target.
The after-hours rally came after a muted regular session for the broader market. The S&P 500 and Dow Jones Industrial Average (DJIA) each gained 0.1%, while the Nasdaq finished essentially flat.
Palantir stock (NASDAQ: PLTR) traded at $141.66 after the report, up 12.74% from the previous session and well above the regular-session high of $126.97.
