Palantir raises full-year outlook after Q2 sales top estimates
What's new: The company projected up to $8.16 billion in sales and said US commercial revenue surged 149% to $764 million.
Palantir Technologies lifted its full-year sales and adjusted operating income forecasts after reporting second-quarter results that beat Wall Street estimates. The software maker said it now expects as much as $8.16 billion in revenue this year, above analyst expectations of about $7.7 billion, and forecast $4.89 billion to $4.91 billion in adjusted income from operations. Chief Executive Alex Karp pointed to especially strong US commercial demand, with revenue in that segment jumping 149% from a year earlier to $764 million. Shares rose as much as 14% in late trading after the results. Palantir, long known for government and military work, also reported US revenue climbed 115% to $1.57 billion while international sales increased 33% to $362.5 million.