Palantir (PLTR) Stock: What to Expect From Earnings on August 3

TLDR

• Palantir reports Q2 earnings on August 3, with Wall Street expecting $1.81 billion in revenue
• PLTR stock is down roughly 20% in 2026 and around 35% from its all-time high set last October
• U.S. revenue hit $1.3 billion in Q1, up 104% year-over-year
• Palantir won a procedural victory when the Defense Intelligence Agency withdrew the ASTRA contract solicitation after a Palantir protest
• Despite strong growth, the stock trades at an extremely high valuation, raising questions about whether earnings can move the needle

Palantir is set to report second-quarter earnings on August 3, and the stakes are high. The stock has dropped around 35% from its all-time high set in October 2025, and investors are watching closely to see if the numbers can stop the slide.

PLTR was trading near the $70 range as of late July, down roughly 20% on the year. The sell-off has been driven more by software sector valuation pressure than by any weakness in the underlying business.

Wall Street expects Q2 revenue of $1.81 billion, representing about 81% year-over-year growth. Palantir guided for $1.797 billion to $1.801 billion, but the company has a track record of beating its own forecasts.

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