Investing.com -- Palantir Technologies raised its full-year revenue and profit guidance on Monday after reporting a 93% surge in second-quarter revenue that topped expectations, fueled by booming demand for its artificial intelligence software and strong momentum in its U.S. commercial business.

The company now expects 2026 revenue of $8.15 billion to $8.16 billion, up from its prior forecast, while projecting U.S. commercial revenue of more than $3.42 billion, representing at least 134% annual growth. It also increased its adjusted operating income guidance to $4.89 billion-$4.90 billion and adjusted free cash flow outlook to $4.5 billion-$4.7 billion.

For the quarter ended June 30, Palantir posted revenue of $1.94 billion, up 93% from a year earlier, while GAAP net income more than tripled to $1.06 billion. Diluted earnings per share came in at $0.41, matching adjusted EPS.

U.S. revenue climbed 115% to $1.57 billion, with U.S. commercial revenue soaring 149% to $764 million and government revenue rising 90% to $809 million. The company closed 220 deals worth at least $1 million during the quarter, including 73 contracts valued above $10 million, while total contract value increased 49% to $3.37 billion.

Palantir reported GAAP operating income of $912 million, representing a 47% operating margin, while adjusted operating income reached $1.19 billion for a 62% margin. Cash from operations totaled $1.22 billion, with adjusted free cash flow of $1.22 billion, both equal to 63% of revenue. The company ended the quarter with $9.2 billion in cash, cash equivalents and short-term U.S. Treasury securities.

For the third quarter, Palantir forecast revenue of $2.16 billion to $2.16 billion and adjusted operating income of $1.29 billion to $1.30 billion.

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