On August 4, Palantir Technologies Inc. rose 16.66% in regular trading, trading at $151.13/share, with turnover of $3.806 billion. The surge was driven by the company's Q2 earnings release, which comprehensively exceeded Wall Street expectations while materially raising full-year guidance.
Specifically, Q2 revenue reached $1.935 billion, up 93% year-over-year, well above the consensus estimate of $1.802 billion. Adjusted EPS came in at $0.41, beating the $0.35 estimate by 17%. US commercial revenue surged 149% to $764 million, significantly exceeding the $716 million analyst forecast. The company raised its full-year revenue guidance to $8.15-$8.158 billion, versus the prior range of $7.65-$7.662 billion and the FactSet consensus of $7.73 billion. Q3 revenue is guided at $2.16-$2.164 billion, above the $2.0 billion estimate.
CEO stated the growth momentum is extraordinary and expected to persist for at least 18 months. Additionally, the company announced a military automation partnership with Mercury Systems and continued promoting its sovereign AI architecture. Deutsche Bank upgraded the stock from Hold to Buy following the results.
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