Palantir $PLTR jumps 16% as U.S. commercial revenue rises 149%

16.3% was the market reaction for Palantir Technologies $PLTR after second-quarter revenue reached $1.94B, up 93% year over year and above the roughly $1.8B LSEG estimate cited by CNBC. The company’s SEC-filed earnings release framed the quarter around 149% growth in U.S. commercial revenue and an 82% full-year revenue growth guide.

The segment mix matters because U.S. commercial revenue reached $764M, while government revenue rose 90% to $809M. Total company revenue nearly doubled from about $1.0B a year earlier, and CNBC reported Palantir guided full-year revenue to $8.15B-$8.158B. For a software company already trading on enterprise AI expectations, the beat shifted the debate from whether AI demand exists to whether the current growth rate can survive tougher comparisons.

The stock reaction also reflects the size of the surprise. MarketWatch and CNBC both reported a double-digit move after the release, while sell-side commentary focused on data control and “AI sovereignty” as the source of demand. Those claims are still management’s framing, but the reported numbers are concrete: 93% total revenue growth, 149% U.S. commercial growth, and guidance above the prior run-rate.

The next check is the company’s Q3 guide and whether large commercial customers keep converting pilots into production contracts. Investors will also watch whether gross margins and cash generation keep pace with the revenue acceleration once the stock reprices the Q2 surprise.

Not investment advice. Verify all figures with primary sources before acting.