Palantir reports booming U.S. commercial revenue growth, topping government for first time — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Palantir beat Wall Street’s third-quarter estimates after Monday’s bell, posting adjusted earnings of 44 cents per share against LSEG’s 41 cents expected and revenue of $2.31 billion versus $2.18 billion expected.
- Palantir’s U.S. commercial business generated $984 million in third-quarter revenue, up 148%, surpassing $953 million in U.S. government revenue, up 96%; its U.S. commercial revenue has more than quintupled over two years.
- Palantir said revenue nearly doubled year over year and topped $2 billion for the first time, while net income more than doubled to $1.13 billion, or 44 cents per share, from $476 million, or 18 cents.
- Palantir lifted full-year U.S. commercial revenue guidance to “in excess of” $3.56 billion from $3.42 billion, while projecting about $2.65 billion in fourth-quarter revenue and $8.53 billion for full-year 2026.
- Palantir shares slipped about 3% in extended trading despite the earnings beat.
- Alex Karp said no one had produced consistent software-AI results like Palantir’s and that the business was succeeding “without salespeople.”
- Alex Karp reiterated calls to nationalize AI labs as the “only realistic way” to manage liability, while noting his support for open-weight models and criticism of leading labs over business data sovereignty.
Why it matters: For Palantir, businesses are now its largest U.S. customer segment by revenue: U.S. commercial sales reached $984 million, up 148%, versus $953 million for government, up 96%. The company raised full-year U.S. commercial guidance above $3.56 billion, yet shares fell about 3% after hours following the beat.
Ask SkimNews
