When it was Alex Karp‘s turn to speak on Palantir’s second-quarter earnings call Monday evening, the CEO could barely contain his excitement. Grinning as he repeatedly pounded his pen on the table—and taking jabs at unnamed Silicon Valley AI competitors who “eat vegetables” and don’t support the U.S. military—a pugnacious Karp reveled in what he saw as a landmark moment for the AI software company and a vindication of its approach of selling customized AI services to businesses.
“Obviously, we are loving these results and loving what they mean for our customers and, broadly speaking, the West,” Karp said.
In the quarter ended June 30, Palantir delivered one of its strongest quarters yet. Revenue surged 93% year over year to $1.94 billion, easily topping analysts’ expectations of $1.801 billion. The company reported net income of roughly $1.1 billion, or 41 cents per share, ahead of Wall Street’s estimate of 35 cents.
This time, investors also responded positively to the company’s results.
Palantir shares, which had fallen roughly 30% this year after a blistering rally in 2025, surged more than 14% in after-hours trading Monday following the results. The reaction marked a sharp reversal from May, when the company also posted a blowout quarter—including 85% revenue growth and beats on both revenue and earnings—but the stock nevertheless fell about 7% as investors questioned whether expectations had become too lofty.
