Palantir's second-quarter earnings showcased significant growth, driven by a 55% surge in US revenue. The company reported $1 billion in revenue and adjusted earnings of 16 cents per share, exceeding projections. Notably, commercial revenue nearly doubled to $628 million, while government revenue rose 53% to $426 million, largely due to a 10-year, $10 billion contract with the US Army. The company also received a $218 million order from the US Space Force, prompting an increase in full-year revenue guidance to over $4 billion.
As usual, I've been cautioned to be a little modest about our bombastic numbers, but there's no authentic way to be anything but have enormous pride and gratefulness about these extraordinary numbers.
The skeptics are admittedly fewer now, having been defanged and bent into a kind of submission.
Palantir's adjusted earnings of 16 cents per share on $1 billion in revenue beat analyst estimates, topping LSEG projections of 14 cents and $940 million.
The US Army awarded Palantir a 10-year, $10 billion contract, consolidating 75 contracts into one.
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