Palantir's official Q3 2024 financial report

Palantir Surpasses Q2 Estimates, Raises FY 2024 Guidance, Stock Surges 18%

Aug 5, 2024, 08:12 PM

Palantir Technologies reported strong Q2 2024 earnings, surpassing Wall Street expectations. The company announced an adjusted EPS of $0.09, beating the estimate of $0.08, and revenue of $678 million, exceeding the forecast of $652.42 million. This marks a 27% year-over-year revenue growth. Palantir also raised its FY 2024 revenue guidance to a range of $2.742 billion to $2.75 billion, up from the previous estimate of $2.68 billion to $2.69 billion. The company attributed the positive results to continuing demand for its artificial intelligence software. Additionally, Palantir's US commercial revenue increased 55% year-over-year to $159 million. The stock surged over 18% in after-hours trading following the earnings announcement. GAAP EPS was reported at $0.06. For Q3, Palantir expects revenue between $697 million and $701 million. FY adjusted operating income is projected to be between $966 million and $974 million.