Palantir US Commercial Revenue Surpasses Government Revenue for the First Time
Palantir Technologies (PLTR) reported record-breaking third-quarter results, highlighted by a 96% year-over-year revenue increase to $2.31 billion. A significant milestone was reached as US commercial revenue grew 148% to $984 million, officially overtaking US government revenue of $953 million for the first time in company history. Bank of America analysts have responded positively to this shift, reiterating a Buy rating with a price target of $255. The transition toward private-sector clients is viewed as a strategic advantage, providing Palantir with more stable revenue streams compared to potentially volatile government budgets. Analysts suggest the company's national security heritage provides a 'natural moat' regarding data safety for large commercial enterprises.
Topics: AI software adoption Bank of America analyst rating Palantir earnings report US commercial revenue growth