Palantir and SpaceX moved in opposite directions following their respective earnings reports. Both companies detailed the significant drivers of their AI-focused business and how they’re making the most of the current environment.
Palantir’s Pop
Shares of Palantir logged their second-best day ever following the company’s earnings report, popping +29% on Tuesday. Investors cheered the company’s quarterly results, where revenue totaled $1.93 billion (representing an astounding 93% growth year on year) and topped the company’s guidance for $1.80 billion of revenue. As shown below, this $130 million revenue beat was the company’s largest quarterly revenue beat in recent history.
Palantir CEO Alex Karp used the conference call to detail Palantir’s strength in the AI software market and reinforce that this may just be the beginning, saying, “At Palantir, we are at the frontline – we are at the front, driving this revolution. I am driving the business to grow at a rate equal or above what we have in US commercial for the next 18 months, which is a very high goal, but it is one we can actually get to because we are fully aligned with what’s right and what’s good and what actually works well in an enterprise…This is one of the more exciting times to be at Palantir.”1
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SpaceX’s Slump
SpaceX published its inaugural earnings report as a public company Tuesday night, though shares of the company’s stock slumped on Wednesday, trading down -13%. The company handily beat expectations, generating $7.8 billion in revenue against expectations of $6.8 billion. Further, FactSet consensus estimates for SpaceX’s future earnings per share meaningfully increased following the company’s report. As shown below, the street now expects SpaceX to earn $1.25 per share in 2027 and $3.58 per share in 2028.
Powering this move higher in expectations may have been commentary from SpaceX CEO Elon Musk on the company’s earnings call. Musk detailed the significant business momentum that SpaceX has seen recently, saying “we are expecting to reach $100 billion+ of [annual recurring revenue in our cloud computing business] in December of this year. It’s probably also worth mentioning that our internal projections for reaching $1 trillion in revenue…have moved up from 2031 to 2030.”
- https://finance.yahoo.com/quote/PLTR/earnings/PLTR-Q2-2026-earnings_call-660319.html
- https://finance.yahoo.com/quote/SPCX/earnings/SPCX-Q2-2026-earnings_call-692542.html
For more content by Blake Anderson, CFA®, Director, Portfolio Management, click here.
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