Palantir Technologies reported second-quarter revenue of $1.94 billion. Revenue surged 93% year-over-year. This result exceeded analyst estimates of $1.81 billion.
The company posted a net income of $1.07 billion. Earnings reached $0.41 per share. U.S. commercial revenue increased by 149%.
Palantir shares jumped nearly 12% in after-hours trading. The company also raised its full-year revenue guidance.
CEO Alex Karp criticized competing AI labs in a shareholder letter. Karp warned that organizations risk giving model creators control over their institutions. He emphasized the need for AI sovereignty to ensure customers maintain control over their data.