【互联网传媒】Palantir上调全年业绩指引，AI驱动商业部门订单创纪录增长——美股互联网传媒行业跟踪报告（二十八）（付天姿）

Core Viewpoint - Palantir's Q2 2025 earnings report shows significant revenue growth and strong demand for AI solutions, indicating a positive outlook for the company's future performance [3][4][5]. Group 1: Q2 2025 Earnings Performance - Palantir reported Q2 2025 revenue of $1.004 billion, a 48% year-over-year increase, exceeding Refinitiv consensus expectations by 6.79% [4]. - Adjusted operating profit for Q2 2025 was $464 million, surpassing consensus expectations by 14.85%, with an operating margin of 46% [4]. - Revenue from the U.S. reached $733 million, up 68% year-over-year, with commercial revenue growing 93% to $306 million and government revenue increasing 53% to $426 million [4]. Group 2: Q3 2025 Guidance and Annual Projections - For Q3 2025, Palantir expects revenue between $1.083 billion and $1.087 billion, with a midpoint of $1.085 billion, which is 1.67% above consensus expectations [5]. - The company raised its full-year 2025 revenue guidance to $4.142 billion to $4.15 billion, with a midpoint exceeding consensus by 0.92% [5]. - The full-year U.S. commercial revenue guidance was increased to $1.302 billion, representing an 85% year-over-year growth [5]. Group 3: Strong Demand for AI Solutions - Palantir's Total Contract Value (TCV) reached $2.27 billion in Q2 2025, a 140% year-over-year increase, with U.S. commercial TCV growing 222% to a record high [6]. - The company completed 157 transactions over $1 million, including 66 over $5 million and 42 over $10 million [6]. - The average revenue from the top 20 customers increased by 30% year-over-year to $75 million, with a total customer count of 849, up 43% [6]. Group 4: AI Platform as a Growth Engine - Palantir's AI Platform (AIP) is becoming a crucial growth driver, integrating ontology technology with AI to address real-world application challenges [7]. - AIP has been successfully implemented across various sectors, including finance, healthcare, and defense, significantly improving operational efficiency [7]. - Notable examples include Citibank reducing onboarding time from 9 days to seconds and a healthcare company signing an $88 million TCV agreement within a month of using AIP [7].