Palantir reported earnings of $0.16 per share, beating expectations by $0.02. Revenue reached $1 billion, a 47.5% increase compared to the previous year, surpassing estimates by $60.53 million. CFO David Glazer stated that the second quarter saw unprecedented revenue growth, with a Rule of 40 score of 94. Palantir raised its annual revenue guidance to $4.142 billion to $4.15 billion and increased its U.S. commercial revenue target to $1.302 billion, showing 85% growth. Bank of America reaffirmed a buy rating with a price target of $180 for the stock.
Palantir's recent earnings report showcased EPS of $0.16, surpassing expectations by $0.02, and revenue reaching $1 billion, representing a 47.5% year-over-year increase, beating estimates by $60.53 million.
CFO David Glazer highlighted that the company achieved unprecedented revenue in the second quarter, with a Rule of 40 score of 94, and accelerated revenue growth of 48% year-over-year.
The firm Bank of America reiterated a buy rating on Palantir and set a price target of $180, citing the company's strong position in the growing AI market.
Palantir has raised its revenue guidance for the year to between $4.142 billion and $4.15 billion and increased U.S. commercial revenue guidance to $1.302 billion, indicating an 85% growth.
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