Palantir Technologies reports 93% revenue surge in Q2

Palantir Technologies reported a significant surge in second-quarter revenue, reaching $1.935 billion, a 93% increase year-over-year. This growth was driven largely by U.S. demand, with U.S. commercial revenue rising 149% year-over-year to $764 million and U.S. government revenue increasing 90% to $809 million.

The company exceeded analyst expectations with adjusted earnings of $0.41 per share. Following these results, Palantir raised its full-year 2026 revenue guidance to a range of $8.15 billion to $8.158 billion, representing approximately 82% year-over-year growth.

In response to the stock's performance, ARK Investment Management, led by Cathie Wood, has engaged in several rounds of selling. Following a 29.5% jump in share price after the earnings announcement, ARK sold over 109,000 shares worth approximately $17 million, followed by additional sales totaling roughly $2 million as the stock continued to fluctuate.