Alex Karp. Photo by Palantir
In the second quarter, Palantir’s revenue rose 93% year-over-year to $1.94 billion, exceeding the market consensus estimate of about $1.8 billion, according to Reuters. Adjusted earnings per share came in at 41 cents, which also exceeded investor expectations.
Amid strong demand for artificial intelligence solutions, the company raised its full-year revenue forecast to $8.15–8.16 billion, up from its previous range of about $7.65 billion. The third-quarter forecast also exceeded market expectations.
The U.S. market remains the main driver of growth. Revenue in the U.S. more than doubled to $1.57 billion. Revenue from government contracts rose 90% to $809 million, while the commercial business in the U.S. grew 149% to $764 million.
Palantir has traditionally partnered with U.S. government agencies, including the Pentagon and the Department of Homeland Security, but in recent years has been actively expanding its presence in the corporate sector by offering platforms for big data analytics and artificial intelligence implementation.
CEO Alex Karp called the quarter’s results “outstanding,” noting that demand for Palantir’s technologies continues to grow rapidly from both government customers and the private sector.
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