Companies /Technology

Palantir Technologies Inc - Class A

NYSE: PLTR Software - Infrastructure
$177.50
â–² $4.77 (+2.76%) today
Markets closed · 12:29am ET

Q1 2026 Earnings

Reported May 4, 2026, 4:06pm ET · SEC source
$0.33
Beat +18.07%
EPS · est. $0.28
$1.6B
Beat +5.90%
Revenue · est. $1.5B
−2.2%
Trailing market
PLTR vs S&P since report
10 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0May 4May 5report 4:06pm ETearnings+1.3%−6.9%
−6%−3%0May 4May 5earnings+1.3%−6.9%
PLTR −6.9%S&P 500 +1.3%
−6%−3%0+3%May 4May 5report 4:06pm ETearnings+2.2%−6.9%
−6%−3%0+3%May 4May 5earnings+2.2%−6.9%
PLTR −6.9%NASDAQ +2.2%
−8%−4%0+4%May 4May 12report 4:06pm ETearnings+2.8%−6.8%
−8%−4%0+4%May 4May 12earnings+2.8%−6.8%
PLTR −6.8%S&P 500 +2.8%
−10%−5%0+5%May 4May 12report 4:06pm ETearnings+5.1%−6.8%
−10%−5%0+5%May 4May 12earnings+5.1%−6.8%
PLTR −6.8%NASDAQ +5.1%
−6.93%
Day of report
−1.56%
Next session
+0.07%
One week
−0.28%
30 days

S&P 500 over the same 30 days: +1.90%.

Did PLTR Beat Earnings? Q1 2026 Results

Palantir delivered a <a href="https://247wallst.com/investing/2026/05/04/live-will-palantir-beat-q1-earnings-tonight-after-market-close/">blowout quarter many anticipated</a>, posting Q1 2026 adjusted EPS of $0.33 against a consensus estimate of $0.28, an 18.07% beat that extended the company's streak of topping consensus EPS estimates to eight consecutive quarters. Revenue climbed 84.7% year-over-year to $1.63 billion, ahead of the $1.54 billion analysts had expected by 5.90%, driven by a U.S. business that more than doubled, with domestic revenue rising 104% year-over-year to $1.28 billion. The engine behind the surge was AI-driven commercial demand, with U.S. commercial revenue growing 133% year-over-year to $595 million while U.S. government revenue added 84% to reach $687 million. GAAP operating income expanded to $754 million at a 46% margin, compared to $176.05 million a year ago. Management responded to the momentum by sharply lifting full-year 2026 revenue guidance to $7.65 billion to $7.66 billion, representing roughly 71% year-over-year growth, while raising U.S. commercial revenue guidance to in excess of $3.22 billion, implying at least 120% growth for the segment.

Key Takeaways
  • U.S. revenue more than doubled year-over-year, growing 104%
  • U.S. commercial revenue grew 133% Y/Y driven by AI platform adoption
  • Rule of 40 score of 145% reflecting combined revenue growth and adjusted operating margin
  • Closed 206 deals of at least $1 million in the quarter
  • Total contract value closed of $2.41 billion, up 61% Y/Y
  • Adjusted operating margin expanded to 60% from 44% Y/Y

“Palantir's Rule of 40 score has soared to 145%. We have shattered the metric, a feat matched only by other fellow AI infrastructure companies: NVIDIA, Micron and SK hynix. Momentum surged as we grew 85% last quarter—our highest-ever year-over-year growth rate—by more than doubling our U.S. business, and now we are raising our full-year revenue guidance to 71% growth, 10 points ahead of our guidance from last quarter, driven by our confidence in an accelerating U.S. market.”

Palantir CEO, on the earnings call

Forward Guidance & Outlook

For Q2 2026, Palantir expects revenue of $1.797–$1.801 billion and adjusted income from operations of $1.063–$1.067 billion. For full year 2026, the company raised revenue guidance to $7.650–$7.662 billion (approximately 71% Y/Y growth), raised U.S. commercial revenue guidance to in excess of $3.224 billion (at least 120% growth), raised adjusted income from operations guidance to $4.440–$4.452 billion, and raised adjusted free cash flow guidance to $4.2–$4.4 billion. The company continues to expect GAAP operating income and net income in each quarter of the year.

PLTR YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$500.0M$1.0B$1.5B$883.9M$1.6BRevenue$710.9M$1.4BGross Profit$176.0M$754.0MOperating Income$214.0M$870.5MNet Income
$0$500.0M$1.0B$1.5BRevenueGross ProfitOperating IncomeNet Income

PLTR Revenue by Segment

U.S. Government$687.0M+84.0%
U.S. Commercial$595.0M+133.0%

PLTR Revenue by Geography

United States$1.3B+104.0%

Figures from SEC filings and company reports. Not investment advice.