Palantir Technologies Inc - Class A

Palantir delivered a convincing beat across the board in Q2 2024, posting adjusted EPS of $0.09 against a consensus estimate of $0.08, a 12.50% positive surprise, while revenue climbed 27.1% year over year to $678.13 million, ahead of the $652.10 million Wall Street had expected. The clearest engine behind the quarter was an explosive surge in US commercial demand, where revenue jumped 55% year over year to $159.00 million and customer count expanded 83% to 295 clients, reflecting accelerating adoption of the company's AI platform. US government revenue also contributed meaningfully, rising 24% to $278.00 million. GAAP profitability continued to expand, with net income reaching $134.13 million at a 20% margin, while adjusted income from operations hit $253.57 million at a 37% margin. Management raised full-year 2024 revenue guidance to $2.74 to $2.75 billion and lifted US commercial revenue guidance to at least $672.00 million, representing growth of at least 47%, underscoring confidence in sustained momentum even as some analysts continue to debate whether the stock's valuation fully reflects execution risk.