Palantir Technologies reported a remarkable 93% year-over-year revenue growth for the second quarter of 2026, reaching $1.94 billion, surpassing Wall Street's $1.8 billion forecast. This strong financial performance triggered a 10% surge in Palantir’s share price immediately following the announcement.

The company’s revenue from U.S. government contracts rose 90% year over year to $809 million, despite increasing criticism of Palantir’s involvement with various governments, including its significant role in the Trump administration’s immigration agenda.

“This quarter was otherworldly: our US commercial revenue grew 149% year-over-year, our overall revenue grew 93% year-over-year,” said Palantir’s CEO Alex Karp. The company anticipates continued growth, projecting third-quarter revenue between $2.160 billion and $2.164 billion and raising its full-year revenue forecast to between $8.150 billion and $8.158 billion, up from previous estimates of $7.65 billion to $7.66 billion.

Emarketer analyst Jacob Bourne noted strong customer commitment to Palantir, describing the company as “the clearest counter-example to the claim that enterprise AI doesn’t scale past pilots, and accelerating growth makes that harder to argue with.” However, Bourne also cautioned that it remains uncertain whether AI will eventually disrupt the software layer Palantir occupies, a factor that has affected its stock price this year.

Sources