Axon Enterprise (AXON) and Palantir Technologies (PLTR) have reported strong second-quarter results, driving both stocks up significantly. Axon’s shares have increased over 40% year-to-date, while Palantir has surged more than 130%. Over the past three years, Axon’s stock is up 640%, and Palantir’s has skyrocketed over 1,700%.
Axon Q2 Financial Performance
In Q2, Axon achieved sales of $668.54 million, a nearly 33% year-over-year increase, exceeding estimates of $642.98 million. The company also reported earnings of $2.12 per share, surpassing expectations of $1.54 by 37% and representing a 76% increase from the previous year.
Palantir’s Billion-Dollar Quarter
Palantir reported its first billion-dollar quarter with sales of approximately $1 billion, a 48% increase from $678.13 million in Q2 last year. This was driven by strong demand for its artificial intelligence platform and a significant $10 billion contract with the U.S. Army. The company’s earnings per share also increased to $0.16, topping expectations of $0.14.
Revenue Guidance Increases
Both companies have raised their full-year revenue guidance, with Axon forecasting $2.65-$2.73 billion and Palantir projecting $4.142-$4.15 billion. Axon expects a full-year adjusted EBITDA of $665-$685 million, while Palantir anticipates over $1 billion in commercial revenue.
