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Palantir Revenue Surges as $13.1B Backlog Builds and Guidance Rises

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Sig2.85Sen+5.95Env0.00Soc0.00Gov0.00

Palantir reported Q2 2026 revenue rising 93% year over year to $1.935B, with operating margin expanding from 27% to 47% and net income margin reaching 55%. Management raised full-year revenue guidance to $8.15B–$8.16B, pointing to backlog conversion, while bookings grew 153% and Rackspace partnerships aim to reduce delivery bottlenecks amid prior market punishment for a mistake it says it never committed.

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