Palantir Technologies, founded by Peter Thiel, announced a historic achievement with second-quarter revenues surpassing $1 billion for the first time. The company also declared ambitions to reach a $1 trillion valuation.
Record Revenues of Palantir
Palantir confirmed a 48% year-over-year revenue growth, reaching $1.004 billion. U.S. revenues surged by 68%, hitting $733 million, while commercial deals in the U.S. brought in $306 million, an increase of 93%.
Future Guidance
For the third quarter, Palantir expects revenue between $1.083 billion and $1.087 billion. The full-year revenue guidance has been raised to a range of $4.142 billion to $4.150 billion, with an adjusted operating income forecast of $1.912 billion to $1.920 billion.
Market Reaction and Management Comments
Following the report, Palantir's stock surged over 3% in after-hours trading. CEO Alex Karp highlighted the remarkable impact of AI on the company's performance and stressed the need for U.S. companies to resist blending into global preferences.
Overall, Palantir is showing strong growth and promising future prospects, affirming the significance of its products amid rising demand for artificial intelligence technologies.
