Yahoo Finance- Palantir beat Wall Street's estimates after the bell on Monday, with U.S. commercial revenue topping government for the first time as businesses adopt more of the company's tools.
- U.S. commercial revenue jumped 148% to $984 million, surpassing U.S. government revenue of $953 million, which was up 96%.
- Palantir lifted its guidance, saying it now expects U.S. commercial revenue "in excess of" $3.56 billion for the full year.
- Shares rose 0.77% to $185.53 at 9:32 a.m. ET on November 2.
- Revenue nearly doubled from a year ago and blew past $2 billion for the first time ever, Palantir said.
- Net income more than doubled to $1.13 billion, or 44 cents per share, from about $476 million, or 18 cents per share.
- "My message to everybody is: Beware of thinking you can delay the future in AI," he told CNBC. "The future is here. The political ramifications of it are here."
Palantir Technologies reported a remarkable third quarter, with revenue nearly doubling year-over-year, surpassing $2 billion for the first time.15
Net income more than doubled to $1.13 billion, or 44 cents per share, compared to $476 million, or 18 cents per share last year.6
U.S. commercial revenue surged 148% to $984 million, outpacing U.S. government revenue of $953 million, which grew 96%.2
CEO Alex Karp highlighted the company's unique position, stating, "I don't believe anyone's had consistent results like this in the history of software AI, ever," emphasizing the company's success without traditional sales tactics.
Palantir has lifted its full-year guidance, now expecting U.S. commercial revenue to exceed $3.56 billion, up from a previous forecast of $3.42 billion.
The company also projects $2.65 billion in revenue for the fourth quarter and $8.53 billion for full-year 2026.
Karp warned against underestimating AI's impact, stating, "The future is here. The political ramifications of it are here."
“U.S. commercial revenue jumped 148% to $984 million, surpassing government's $953 million, and net income more than doubled to $1.13 billion. Palantir lifted full-year U.S. commercial revenue guidance to over $3.56 billion, projecting about $2.65 billion in Q4 revenue.”
CNBC
