Palantir Technologies Inc. released its second-quarter financial results, showing revenue surged 93% year-over-year to approximately $1.94 billion, with adjusted earnings per share of $0.41, both exceeding market expectations. This strong performance sent the company's stock up nearly 15% in after-hours trading.

The U.S. market served as the primary driver of Palantir's growth, accounting for over 81% of total revenue and increasing 115% year-over-year. U.S. commercial operations were particularly impressive, with revenue jumping 149% to $764 million, while U.S. government revenue rose 90% to $809 million.

Based on these robust results, Palantir raised its full-year 2026 revenue guidance by nearly $500 million, now projecting a range of $8.15 billion to $8.16 billion. The company also forecasts third-quarter revenue of $2.16 billion, again beating analyst expectations.

Chief Executive Alex Karp attributed the quarter's success to rising demand for "sovereign AI," where enterprises seek full control over their data and AI systems to prevent sensitive information from being exploited by external AI labs. Karp indicated that this strong growth momentum is expected to persist for at least another 18 months.