When Does Palantir Report Earnings? August 3, and Consensus Sits Above the Company's Own Guidance

TL;DR

• Palantir reports Q2 2026 after the close on Monday, August 3, with the webcast at 5:00pm ET.
• Consensus: adjusted EPS of $0.35 and revenue of about $1.81 billion, up 81%, against $0.16 and $1 billion a year ago.
• Here is the unusual part. Palantir guided to $1.797 to $1.801 billion. Consensus sits above the top of that range, which is not where the street normally parks itself.
• The segment split is where the story is: Government at about $916.2 million, up 65.7%, and Commercial at about $892.1 million, up 98%.
• Palantir opens the week. It reports the evening before AMD and SpaceX, so it sets the tone for AI sentiment going into both.

When Does Palantir Report Earnings?

The short answer: after the close on Monday, August 3, 2026, with the conference call at 5:00pm ET.

That is 10:00pm BST in the UK and 5:00am Tuesday in Singapore.

Palantir is the first major AI-adjacent name of the month, and it reports into a market that has just spent a fortnight repricing every company connected to AI spending. It will be read as a sentiment indicator whether or not that is fair.

What the Street Expects

Line	Q2 2026 consensus	Year ago
Adjusted EPS	$0.35	$0.16
Revenue	~$1.81B, up 81%	~$1.00B
Government revenue	~$916.2M, up 65.7%
Commercial revenue	~$892.1M, up 98%
Company guidance	$1.797B to $1.801B

Two things to notice before the print.

Consensus is above guidance. Palantir guided a remarkably narrow band, $1.797 to $1.801 billion, which is a $4 million spread on a $1.8 billion quarter. The street has modelled $1.81 billion, slightly above the top. That is unusual. Normally analysts cluster inside management's range and the beat is close to pre-agreed. Here the market is explicitly betting Palantir will exceed a number it deliberately drew tight.

Commercial is about to overtake Government. At $892.1 million against $916.2 million they are nearly level, with Commercial growing at 98% against Government's 65.7%. The quarter Commercial passes Government is the quarter the "Palantir is a defence contractor" argument stops working, and on these numbers it is one or two quarters away.

The Board

Consensus sits above the top of management's own guided range. That is the setup.

What Actually Decides the Reaction

The full-year guide, not the quarter. Palantir raised its 2026 revenue guidance last quarter to reflect 71% growth. The company has built a pattern of beating and raising, and a stock priced for that pattern needs the pattern to continue. A beat with an unchanged full-year number would read as a deceleration signal even if the quarter itself is excellent.

Commercial growth specifically. Government revenue is lumpy, contract-driven and politically exposed. Commercial at 98% growth is the line that justifies the multiple, because it is the evidence that Palantir's software sells to buyers who have alternatives. Watch US commercial in particular.

And the bar is sentiment, not arithmetic. This is the recurring lesson of the season. Apple set a record gross margin and fell about 8%. Roblox beat on EPS and lost 29% on guidance. A company growing 81% is priced for growing 81%, and the beat is not the variable.

The Options Angle

• Options are pricing a large move, and Palantir has one of the widest earnings distributions in large-cap software. Buying calls or puts the day before means paying the year's most expensive premium for the one event everybody can see coming.
• This is the textbook volatility crush setup. If Palantir beats and the stock rises 5% against an 11% implied move, long option holders lose money while being directionally right.
• Selling premium is the mathematically favoured side and the operationally dangerous one. Palantir has produced double-digit single-session moves repeatedly. An iron condor with genuine wings is survivable; a naked short strangle is how accounts end.
• If you hold shares and intend to keep holding, a covered call into Monday's elevated volatility is the one clearly reasonable structure, with strikes set outside the implied move.
• Monday evening sets Tuesday's tone for AMD. Palantir is not a read-through to AMD's fundamentals, but it is a read-through to how the market wants to treat AI names this week.

The One-Line Read

Palantir reports after the close on Monday August 3 with the call at 5:00pm ET, and consensus of $0.35 on $1.81 billion sits above the top of the company's own $1.797 to $1.801 billion guide, which means the street has already priced a beat that management drew a deliberately narrow range around: the number that decides the reaction is the full-year raise, and the number that decides the story is commercial revenue growing 98% and closing in on government.