Palantir Technologies (PLTR) spent most of 2026 stuck, heading into Q2 with the stock down 10% year‑to‑date (YTD) and 7.65% below its 52‑week high, even though its AI platform, margins, and revenue growth were still improving. Expectations were already high, with Wall Street looking for Q2 EPS around $0.28, more than 115% higher than a year ago.
That backdrop flipped in a day. After the latest earnings, Palantir Technologies jumped 29.45% in a single session, one of its biggest one‑day moves ever, and pushed cleanly through its 200‑day moving average. The spark was the Q2 2026 report. Revenue climbed 93% year-over-year (YOY) to $1.935 billion, while U.S. commercial revenue soared 149% to $764 million, smashing the numbers analysts had penciled in.
