Palantir Achieves First Billion-Dollar Quarter as Stock Surges

Palantir Technologies Inc. (PLTR) shares climbed more than 4% in extended trading after the defense software firm reported quarterly revenue surpassing $1 billion for the first time. The company posted Q2 earnings of $0.16 per share, exceeding analyst estimates of $0.14, while revenue jumped 48% year-over-year to $1.004 billion.

"The growth rate of our business has accelerated radically," said CEO Alex Karp, signaling no intention to slow expansion. US commercial revenue soared 93% to $306 million, while government contracts grew 53% to $426 million - both segments outperforming expectations.

The results mark a rebound from May's 12% selloff, when investors questioned valuations despite strong earnings. Palantir's latest performance demonstrates sustained momentum in its Core markets, though international commercial operations remain an area for improvement.