Palantir raises revenue forecast as commercial sales overtake government
Palantir's US commercial business surpassed government sales for the first time, boosting full-year revenue outlook.
The Brief
- Q3 revenue hit $2.313 billion, up 96% year-over-year.
- Full-year revenue now expected between $8.530 billion and $8.534 billion.
- US commercial sales target raised to over $3.559 billion.
Palantir reported third-quarter revenue of $2.313 billion, exceeding Wall Street's expectation of $2.17 billion, according to Bloomberg data.
The company raised its full-year revenue forecast to a range of $8.530 billion to $8.534 billion, surpassing analyst estimates of $8.2 billion.
Palantir also increased its target for US commercial sales to more than $3.559 billion, marking the first time its commercial business has exceeded government sales.
Adjusted earnings per share of $0.44 beat the consensus estimate of $0.40, reflecting strong performance in its core operations.
Palantir's commercial business has grown rapidly, building on its historically dominant position in the US government sector.
Earlier this year, Palantir's Maven Smart System became an official Pentagon program, securing a multiyear role in US military AI projects.
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