# Palantir shares jump 13% as U.S. AI demand sends revenue soaring past targets > Source: > Published: 2026-08-03 20:57:44+00:00 [Palantir](https://fortune.com/company/palantir-technologies/) blew past Wall Street’s financial targets in its second quarter and forecast strong growth in the coming months, sending its stock surging 13% in after hours trading on Monday. Revenue in the three months ended June 30 increased 93% year-over-year, totaling $1.94 billion, compared to the $1.801 billion that analysts were expecting. The AI software company posted net income of roughly $1.1 billion, or 41 cents per share, versus the average analyst estimate of 35 cents. Palantir’s growth was fueled by continued strength in the U.S., where commercial revenue jumped 149% from a year earlier and government revenue climbed 90%. “Our business is compounding at a rate and scale that we have never before witnessed,” Palantir CEO [Alex Karp](https://fortune.com/2026/07/17/palantir-ceo-alex-karp-artifical-intelligence-wealth-inequality-problem-billionaire-net-worth-surge-but-middle-class-left-behind/) said in a [letter to shareholders](https://www.palantir.com/q2-2026-letter/), noting that Palantir’s second-quarter net income was more than the company generated in total revenue the year before. The AI software company also issued another bullish outlook. Palantir expects third-quarter revenue of $2.160 billion to $2.164 billion and adjusted income from operations of $1.292 billion to $1.296 billion. It also raised its full-year 2026 revenue guidance to between $8.150 billion and $8.158 billion, up from its [start-of-year forecast](https://investors.palantir.com/news-details/2026/Palantir-Reports-Q4-2025-U-S--Comm-Revenue-Growth-of-137-YY-and-Revenue-Growth-of-70-YY-Issues-FY-2026-Revenue-Guidance-of-61-YY-and-U-S--Comm-Revenue-Guidance-of-115-YY-Crushing-Consensus-Expectations/) of $7.182 billion to $7.198 billion. Shares of Palantir, which are down roughly 30% this year, jumped 13% to $142.0.1 in after hours trading following Monday’s earnings report. **Subscribe to Fortune Gulf Brief**. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it.