Palantir Jumps 29% After Q2 Revenue Soars 93%, Even as Burry Stays Short
Updated
Updated · Stocktwits · Aug 5
Palantir Jumps 29% After Q2 Revenue Soars 93%, Even as Burry Stays Short
2 articles · Updated · Stocktwits · Aug 5
Summary
Palantir shares surged 29% to $162.66 on Tuesday, their strongest session in six months, after the company posted record second-quarter growth and lifted its 2026 outlook.
Q2 revenue rose 93% to $1.94 billion, beating a $1.81 billion estimate, while adjusted EPS of $0.41 topped $0.35; U.S. commercial revenue jumped 149% and Palantir closed 220 deals worth at least $1 million.
Palantir raised its 2026 revenue forecast to $8.15 billion-$8.16 billion from a prior top end of $7.66 billion, with CEO Alex Karp saying the company aims to sustain its U.S. commercial growth pace for another 18 months.
Michael Burry nonetheless reiterated that he remains short PLTR, saying he still holds put-linked bearish positions after previously arguing the stock's fundamental value was well below current levels.
ARK Invest also trimmed exposure, selling 39,233 shares worth about $6.38 million, while Morningstar kept a $153 fair-value estimate and warned the stock's valuation leaves little margin for error.