Palantir Technologies on Monday reported third-quarter results that beat Wall Street estimates after the close, with U.S. commercial revenue exceeding U.S. government revenue for the first time, CNBC reported¹.

Revenue was $2.31 billion, compared with $2.18 billion expected by LSEG, CNBC said, nearly double a year earlier and the first quarter above $2 billion¹. Adjusted earnings were 44 cents a share versus 41 cents expected¹. Net income more than doubled to $1.13 billion, or 44 cents a share, from about $476 million, or 18 cents a share¹.

U.S. commercial revenue jumped 148% to $984 million, passing U.S. government revenue of $953 million, which rose 96%, according to CNBC¹. The network said U.S. commercial revenue has more than quintupled over two years and tied the mix shift to businesses adopting Palantir's artificial intelligence tools¹.

Palantir raised its outlook, saying it now expects U.S. commercial revenue in excess of $3.56 billion for 2026, after a prior forecast of $3.42 billion last quarter, CNBC reported¹. It projected about $2.65 billion in fourth-quarter revenue and about $8.53 billion for full-year 2026¹.

CNBC noted Chief Executive Alex Karp has criticized large AI labs over data control; the earnings dispatch did not include a new on-record comment from Karp on the quarter¹. After-hours share moves and a full segment breakdown beyond U.S. commercial and U.S. government were not in the CNBC report¹.

Sources

1. CNBCPalantir reports booming U.S. commercial revenue growth, topping government for first time4:09 PM

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