Palantir Stock Soars After Revenue Surges 93% and Full-Year Outlook Jumps

This article first appeared on GuruFocus.

Palantir Technologies (NASDAQ:PLTR) stock soars more than 15% after lifting its full-year 2026 revenue outlook after reporting second-quarter revenue growth of 93% year over year, while U.S. commercial demand remained a key driver.

Revenue reached $1.94 billion, up 19% from the prior quarter. Adjusted free cash flow was $1.22 billion, while U.S. revenue rose to $1.57 billion. Palantir also reported $3.4 billion in total contract value bookings during the quarter.

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For 2026, Palantir now expects revenue of $8.15 billion to $8.158 billion, compared with its previous range of $7.65 billion to $7.662 billion. U.S. commercial revenue is expected to exceed $3.424 billion, while adjusted free cash flow is projected at $4.5 billion to $4.7 billion.

Palantir also forecast third-quarter revenue of $2.16 billion to $2.164 billion. Management pointed to rising demand for its AI platform, particularly among U.S. commercial customers, while cautioning that higher hiring and product costs could weigh on expenses in the coming quarter.