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What happened:Palantir (PLTR) stock surged nearly 20% on Tuesday.
What's behind the move:The company reported fiscal second quarter results that beat analyst expectations and raised its full-year guidance.
The company sees full-year revenue of $8.16 billion versus prior estimates for $7.65 billion to $7.66 billion.
The company posted adjusted earnings of $0.41 per share in its Q2, versus Wall Street estimates of $0.35.
Revenue came in at $1.94 billion, compared to expectations of $1.8 billion.
commercial revenue grew 149% year-over-year, our overall revenue grew 93% year-over-year," Palantir's CEO Alex Karp said.
"The sovereign AI revolution makes us very optimistic about the future," he added.
US government revenue grew 90% year over year and 18% quarter over quarter.
The company said it closed 220 deals worth $1 million or more, of which 98 were worth $5 million or more and 73 were worth $10 million or more.
"Record highs across the board," Platantir's chief revenue officer and chief legal officer, Ryan Taylor, told analysts during the earnings call.
The company also reported $1.22 billion in adjusted free cash flow, a metric closely watched in the AI space, topping estimates of $1 billion.
What else you need to know:Palantir has argued that the enterprise AI market is splitting into two camps: companies paying millions of dollars for model tokens only to receive "AI slop," and those driving measurable return on investments by using the company's underlying infrastructure layer.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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