Palantir Delivers Impressive Q2 Results
Palantir Technologies (NASDAQ: PLTR) reported a record revenue of $1.004 billion for Q2 2023, marking a 48% year-over-year increase and surpassing analyst expectations of $939.5 million. U.S. revenue grew by 68% to reach $733 million.
The company also closed $2.27 billion in total contract value, up 140% from the previous year, and adjusted earnings per share rose to $0.16, exceeding estimates of $0.14. Palantir’s market capitalization reached nearly $420 billion, solidifying its position as one of the top 20 most valuable companies in the U.S.
Following the report, Palantir’s stock rose by 7.8% on August 5, 2023, as the company raised its full-year guidance to $4.146 billion in revenue and $1.916 billion in adjusted operating income.
