Palantir 3Q Profit Up, Lifts Outlook as U.S. Commercial Revenue Overtakes Government Business

By Elias Schisgall

Palantir's revenue surged in its most recent quarter as the company said businesses are increasingly turning away from artificial-intelligence labs and seeking to more fully control their use of the technology.

The company, which makes bespoke data management and analysis software for businesses and governments, on Monday reported a profit of $1.13 billion, or 44 cents a share. That compares with a profit of $475.6 million, or 18 cents a share, a year earlier.

On an adjusted basis, earnings were 44 cents a share, beating Wall Street's expectation for 41 cents a share, according to analysts polled by FactSet.

Revenue soared 96% to $2.31 billion, ahead of analysts' expectations for $2.18 billion in revenue.

The growth was headlined by Palantir's U.S. commercial business, where revenue surged 148% to $984 million. Revenue from the U.S. government was $953 million, up 96%. The company said this was the first time its commercial revenue had surpassed government revenue in the U.S.

"This is not mere growth," Chief Executive Alex Karp wrote in a letter to shareholders. "It is a rate of expansion that represents a degree of intensity and sustained momentum that we believe is unmatched in recent economic history."

Palantir also lifted its full-year guidance, projecting revenue of between $8.53 billion and $8.534 billion, up from earlier guidance in a range of $8.15 billion and $8.158 billion. Analysts were expecting $8.21 billion in full-year revenue heading into the print.

For the current fourth quarter, the company expects to bring in between $2.649 billion and $2.653 billion in revenue. Analysts currently expect $2.46 billion in fourth-quarter revenue.

Shares were up 1.4% at $180.77 in after-hours trading.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

November 02, 2026 16:25 ET (21:25 GMT)