Palantir Announces third-quarter results on Monday; adjusted earnings per share and revenue both exceeded Wall Street expectations; as more companies adopt the company's artificial intelligence tools, U.S. commercial revenue surpassed government business for the first time.
The following is a comparison of the company's performance with the expectations of LSEG:
- Earnings per share: 44 cents after adjustment, expected to be 41 cents.
- Revenue: $2.31 billion, expected to be $2.18 billion
Palantir indicates that revenue has nearly doubled compared to the same period last year and has for the first time exceeded $2 billion. Net profit has increased to $1.13 billion, which is $0.44 per share; in the same period last year, it was approximately $476 million, or $0.18 per share.
Palantir has long been known for its government-related services, but its commercial business has caught up in the third quarter.
U.S. commercial revenue increased by 148% year-on-year to $984 million, surpassing the U.S. government revenue of $953 million; the latter grew by 96% year-on-year. The company stated that its U.S. commercial revenue has more than quintupled over the past two years.
Palantir has raised its performance guidance, stating that it currently expects annual U.S. commercial revenue to "exceed" $3.56 billion. Last quarter, the company raised this forecast to $3.42 billion. The company expects revenue for the fourth quarter to be around $2.65 billion, and annual revenue for 2026 to be around $8.53 billion.
The CEO Alex Karp has been publicly criticizing leading artificial intelligence laboratories. Earlier this year, he told CNBC that these laboratories are forcing companies to sell their data sovereignty.
In September, as calls for regulation intensified, Karp appeared at the White House alongside CEOs of several large technology companies; previously, researchers from AI claimed that this technology had a more than 10% chance of leading to human extinction.
"The main issue we both face is that we must take responsibility for the risks we are aware of," he said at the time outside the White House to CNBC, "All of us must do so. By the way, Americans do not want different rules to apply to technology professionals and the general public."
