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Palantir Q2 Earnings Numbers
Palantir CEO Alex Karp (Andrew Caballero-Reynolds/Getty Images)

Palantir beats Q2 earnings and revenue expectations, boosts guidance

It was a classic beat and raise for the best performer in the S&P 500.

Matt Phillips

Palantir jumped after the best performer in the S&P 500 once again exceeded Wall Street’s expectations with Q2 earnings results.

The Denver-based defense, data, and AI software company also raised its annual guidance. Shares were up 4.3% in recent after-hours trading.

Here are some of the highlights:

  • Adjusted earnings per share of $0.16 vs. Wall Street expectations for $0.14.

  • Sales of $1.004 billion vs. an expected $939 million, per FactSet data.

  • Palantir now sees full-year 2025 revenue in a range of $4.142 billion to $4.150 billion, vs. its previous guidance of $3.890 billion to $3.902 billion.

  • That annual revenue forecast projects growth of nearly 45% vs. Wall Street expectations for 36% year-on-year sales growth.

  • Palantir forecast Q3 sales growth of roughly 49.5%, vs. the 35% rate analysts had been predicting before the earnings announcement.

  • Q2 sales at Palantir’s US government division rose 53% to $426 million, vs. Q1 growth of 45% year over year to $373 million. 

  • Sales at Palantir’s US commercial unit were up 93% year over year to $306 million, vs. Q1 growth of 71% to $255 million.

Through the end of last week, Palantir — a wildly popular position among retail traders — had been the top-performing stock in the S&P 500, rising more than 100%.

Over just the last 12 months, the stock’s rise of more than 500% created more than $300 billion in wealth for shareholders and catapulted Palantir into the top ranks of Corporate America.

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Retail traders are “skipping the dip” this time

Here’s one noteworthy feature of the recent market downturn that has the S&P 500 poised for its worst week since reciprocal tariffs were announced in early April: retail traders seemingly aren’t eager to buy the weakness in single stocks the way they used to be.

JPMorgan strategist Arun Jain has flagged that retail traders instead appear to be “skipping the dip.”

“In contrast to the behavior observed during the post-Liberation Day selloff, retail investors did not seize the opportunity to buy-the-dip on Tuesday, with a few exceptions such as META,” he wrote of the day where the benchmark US stock index fell 1.2%. “In fact, they scaled back their ETF purchases and turned net sellers in single stocks.”

Then on Thursday, when the S&P 500 fell 1.1%, Jain projected that retail traders sold $261 million in single stocks. Through noon ET on Friday, his daily outflow estimate stands at $851 million.

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Archer Aviation plunges on $650 million share sale following its third-quarter results

Air taxi maker Archer Aviation is deep in the red on Friday morning after reporting its third-quarter results after the bell Thursday. The stock is down more than 12%.

Investors don’t appear to be thrilled about the company’s $650 million direct stock offering, announced alongside its results.

The move marks at least the third major equity raise, and dilution, for Archer this year. The company raised $300 million from a new stock sale in February, and sold $850 million worth of shares in June.

On Archer’s earnings call Thursday, interim CFO Priya Gupta said the company came to the decision after “substantial inbound interest.” According to Gupta, the company has heard from government and commercial partners that liquidity is a “key driver to their decisions of who to partner with.” With its latest share sale, Archer said its total liquidity is more than $2 billion.

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The move marks at least the third major equity raise, and dilution, for Archer this year. The company raised $300 million from a new stock sale in February, and sold $850 million worth of shares in June.

On Archer’s earnings call Thursday, interim CFO Priya Gupta said the company came to the decision after “substantial inbound interest.” According to Gupta, the company has heard from government and commercial partners that liquidity is a “key driver to their decisions of who to partner with.” With its latest share sale, Archer said its total liquidity is more than $2 billion.

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