Palantir Q3 Earnings Exceed Estimates Driven by Surge in U.S. Commercial Revenue
Palantir Technologies (PLTR) reported third-quarter financial results that surpassed Wall Street expectations, highlighted by a significant milestone: U.S. commercial revenue ($984 million) surpassed U.S. government revenue ($953 million) for the first time. This shift underscores the company's successful expansion from its traditional government stronghold into the private sector, fueled largely by high demand for its artificial intelligence tools. The company reported total revenue of $2.31 billion and adjusted earnings per share of 44 cents, both beating analyst estimates. Net income saw a substantial increase, more than doubling to $1.13 billion compared to the previous year. Following these results, Palantir raised its full-year U.S. commercial revenue guidance to over $3.56 billion.
Tickers: $PLTR
Topics: artificial intelligence commercial revenue earnings beat guidance upgrade revenue growth
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