Palantir raises annual revenue forecast

Palantir raised its annual revenue forecast for the second time, citing strong demand from government and commercial clients. The company now expects annual revenue between $8.150 billion and $8.158 billion, up from a prior range of $7.650 billion to $7.662 billion. CEO Alex Karp said the business is compounding at an unprecedented rate. U.S. government revenue soared 90% to $809 million in the second quarter, and the company also raised its U.S. commercial revenue forecast to over $3.424 billion. Palantir reported Q2 adjusted EPS of 41 cents, beating estimates of 35 cents, and revenue of $1.94 billion, up 93% year-over-year. The company's Q3 revenue forecast of $2.160-$2.164 billion also exceeded analyst expectations. Shares rose in extended trading. Palantir is collaborating with Anduril Industries on software for President Donald Trump's Golden Dome antimissile shield initiative. However, the company faces scrutiny in Europe, including France's France — General Directorate for Internal Security replacing Palantir tools with ChapsVision and a challenge to a blocked London police contract.