Palantir Reports 96% Revenue Growth Driven by U.S. Commercial Expansion
Palantir Technologies (PLTR) reported strong third-quarter results, highlighted by a 96% year-over-year revenue increase to $2.31 billion. A significant milestone was reached as U.S. commercial revenue ($984 million) surpassed U.S. government revenue ($953 million) for the first time. The company's Artificial Intelligence Platform (AIP) continues to drive momentum, evidenced by a 29% increase in U.S. commercial customer count and 212 deals valued at over $1 million. Despite robust top-line growth, Palantir shares faced pressure due to a slowdown in Total Contract Value (TCV), which grew only 6% compared to a 49% jump in the previous quarter. Management attributed this deceleration to a shift toward shorter-duration Sovereign AI contracts. While the stock trades at a premium valuation, the company raised its full-year revenue guidance to approximately $8.53 billion.
Tickers: $PLTR
Topics: earnings report revenue growth total contract value U.S. commercial revenue U.S. government revenue
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Part of the story Palantir Technologies Shares Decline Despite Record Q3 Revenue and Raised Guidance (16 articles)