Palantir Technologies just posted the kind of quarter that makes Wall Street analysts look like they’re using a calculator from 2003. The company reported Q2 2026 revenue of $1.94 billion, a 93% jump year-over-year that blew past consensus estimates of $1.80 billion. Shares responded accordingly, climbing roughly 12% in after-hours trading.
The real headline, though, is what’s happening on the domestic front. US commercial revenue surged 149% compared to the same period last year, a number so large it prompted CEO Alex Karp to describe the quarter’s sales momentum as “otherworldly.”
The guidance bump tells the bigger story
Palantir didn’t just beat on the quarter. It raised its full-year outlook in a way that suggests management sees this acceleration as durable, not a one-time sugar rush.
Full-year 2026 revenue guidance was lifted to a range of $8.15 billion to $8.158 billion. The prior forecast sat at $7.65 billion to $7.66 billion, meaning the company effectively added half a billion dollars to its annual outlook in a single revision.
