04:56 PM EDT, 08/04/2025 (MT Newswires) -- Palantir Technologies ( PLTR ) late Monday reported second-quarter results that topped Wall Street's estimates as US sales soared.

Consolidated revenue climbed 48% year-on-year to $1 billion, exceeding the Street's $937.7 million estimate. Adjusted per-share earnings totaled $0.16, topping the consensus on FactSet of $0.14.

US revenue advanced 68% to $733 million in the second quarter, driven by sharp gains in both the commercial and government segments, Palantir ( PLTR ) said.

The software maker's shares were up 4.8% in after-hours trade. Palantir's ( PLTR ) stock price has more than doubled year to date amid several contracts with the Trump administration.

The company's software is used by both government and commercial enterprises, including the American defense sector. The US Army said last week that it awarded a contract to Palantir ( PLTR ) to meet growing warfare demands over a period of 10 years. The deal, which consolidated dozens of contracts into a single framework, has a $10 billion valuation cap.

Wedbush Securities said on Friday that the Army agreement represented one of the largest Department of Defense software contracts in US history.

"We believe this deal represents an additional tailwind for (Palantir ( PLTR )) with (artificial intelligence) initiatives across the US government accelerating with AI a strategic focus on the federal front and Palantir ( PLTR ) in the sweet spot to benefit from a tidal wave of federal spending on AI," Wedbush analysts including Daniel Ives wrote in a note.

For 2025, the company expects revenue between $4.14 billion and $4.15 billion, compared with $3.89 billion to $3.9 billion previously expected. Market projections point to $3.89 billion.

Palantir ( PLTR ) forecasts third-quarter revenue of $1.083 billion to $1.087 billion, compared with the Street's $981.8 million estimate. The outlook is "the highest sequential quarterly revenue growth in our company's history," reflecting a 50% annual jump, Chief Executive Alex Karp said in a statement.