Palantir shares spike on revenue and earnings beat

Summary

Palantir reported Q2 earnings above consensus, with revenue of $1.94 billion and US commercial business up nearly 150% YoY. The company raised full-year guidance across the board. CEO Alex Karp criticized competitors and emphasized an open source future. Shares spiked after the release.

• Palantir Q2 adjusted EPS $0.41 vs. $0.35 estimate
• Revenue of $1.94 billion beat expectations
• US commercial revenue grew nearly 150% year-over-year
• Full-year guidance raised across the board
• CEO Karp doubled down on criticism of Anthtopic and OpenAI
• Karp says global movement emerging toward open source to avoid vendor lock-in
• Shares reacted positively in after-hours trading