Palantir Doubles Q3 Profit Amid Surging AI Demand
Company hits $1.13 billion in earnings and raises annual guidance as revenue jumps 96%
Palantir reported net earnings of $1.13 billion for the third quarter of 2026. This figure is more than double the result achieved during the same period last year. Earnings per share reached $0.44.
Total revenue for the software company rose 96% year-over-year to reach $2.31 billion. The amount surpassed market estimates that projected $2.18 billion. Adjusted earnings per share also beat analyst forecasts.
The commercial division in the United States was the primary growth driver with a 148% jump in revenue. For the first time in the company's history, this segment outperformed revenue generated from government contracts. The public sector also showed significant expansion of 96%.
CEO Alex Karp described the pace of expansion as an unprecedented movement. The company raised its financial targets for the end of 2026. The new annual revenue estimate ranges between $8.53 billion and $8.534 billion.
For the fourth quarter, revenue expectations are between $2.649 billion and $2.653 billion. The performance reflects corporate demand for greater control over artificial intelligence tools. Shares rose in after-hours trading.
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