Palantir Technologies Shares Decline Despite Record Q3 Revenue and Raised Guidance

Palantir Technologies (PLTR) reported strong third-quarter results, featuring record revenue of $2.3 billion—a 96% year-over-year increase—and earnings per share of $0.44, both exceeding analyst expectations. The company's U.S. commercial revenue surged 148%, driven by its Artificial Intelligence Platform (AIP), overtaking government contracts as a primary growth driver for the first time. Despite the 'beat and raise' performance and increased full-year guidance, Palantir's stock faced downward pressure due to concerns over decelerating momentum. Total contract value (TCV) grew only 6% year-over-year, a significant slowdown from the 49% growth seen in the previous quarter. Investors also weighed these slowing backlog metrics against the company's high premium valuation of 147 times earnings.

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