Palantir Stock Surges on Record Revenue

Shares of Palantir (PLTR) advanced 8.7% by 10:05 a.m. ET on Tuesday, outperforming the S&P 500 (+0.1%) and Nasdaq Composite (+0.3%). The move follows a Q2 report that defied even the most bullish forecasts, underscoring the artificial intelligence (AI) firm’s accelerating momentum.

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Revenue Crosses $1 Billion Threshold

Palantir’s Q2 results marked a watershed moment, with revenue exceeding $1 billion for the first time. Adjusted earnings per share (EPS) of $0.16 surpassed the consensus estimate of $0.14, while sales outpaced expectations by $60 million. The company’s upward revision of full-year guidance-from $3.89B-$3.9B to $4.142B-$4.15B-further signals operational scalability.

  • Revenue growth: 28% year-over-year, driven by defense and commercial AI adoption.
  • Adjusted EPS margin expansion to 16%, reflecting improved cost discipline.
  • Backlog growth of 37%, suggesting durable demand.

CEO Alex Karp described the trajectory as an “efficient revolution,” though his comment on workforce dynamics (“goal is 3,600 people. We now have 4,100”) invites scrutiny on productivity metrics. The disconnect between headcount and revenue per employee remains a subject for further analysis.

Valuation Multiples: A Double-Edged Sword

Despite robust fundamentals, Palantir’s valuation metrics diverge sharply from historical norms. A trailing price-to-earnings (P/E) ratio of 700x and forward P/E of 280x position it among the most expensive firms in the S&P 500-a category currently limited to Tesla (forward P/E: 110x). Such extremes raise questions about market assumptions:

  • Sustainability of current growth rates beyond 2025.
  • Ability to maintain margins amid intensifying AI competition.
  • Regulatory risks in defense-concentrated revenue streams.

While the company’s technical execution and market positioning are credible, the implied long-term revenue CAGR of 45%+ to justify current multiples represents a high bar. Investors are advised to monitor R&D efficiency, capital allocation decisions, and macroeconomic tailwinds closely.

Palantir’s stock trajectory exemplifies the duality of growth investing: extraordinary potential, but at a price that leaves little margin for error. 🚀

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2025-08-06 06:48