Business · Companies · 3 hrs ago
Palantir more than doubles third-quarter profit as revenue surges
Palantir's third-quarter net income more than doubled to $1.13 billion, up from $475.6 million a year earlier.
The U.S. company sells software and artificial intelligence services to businesses and governments.
Revenue climbed 96% to $2.31 billion, beating analysts' expectations.
U.S. commercial revenue rose 148%, reaching $984 million and surpassing the U.S. government business for the first time.
The government segment grew 96% to $953 million.
Palantir's chief executive said the growth reflects companies seeking more control over how they use AI.
The company raised its 2026 revenue forecast and expects fourth-quarter revenue of $2.649 billion to $2.653 billion, above analysts' expectations.
Palantir reported third-quarter 2026 net income of $1.13 billion, more than double the $475.6 million recorded a year earlier.
Revenue rose 96% year over year to $2.31 billion, above analysts’ expectations of $2.18 billion.
Revenue from the U.S. commercial business climbed 148% to $984 million, exceeding the U.S. government segment’s $953 million for the first time.
The company raised its 2026 revenue forecast and projected fourth-quarter revenue above analysts’ expectations.
CEO Alex Karp said growth reflected rising demand from companies for greater control over how they use AI.
- Who
- Palantir, a software and artificial intelligence company.
- What
- It reported more than doubled third-quarter net income and sharply higher revenue.
- When
- The third quarter of 2026; the results were reported on November 2, 2026.
- Where
- Not stated.
- Why
- The company said expansion reflected rising demand from businesses for greater control over AI use.
This story does not have two clearly opposing sides.
Palantir recorded net income of $475.6 million.
Net income reached $1.13 billion, while revenue rose 96% to $2.31 billion.
Palantir raised its 2026 revenue forecast and issued fourth-quarter guidance above the FactSet consensus.
Palantir shares were up 1.31% in after-hours trading.
- Third-quarter net income
- $1.13 billion
- Third-quarter revenue
- $2.31 billion, up 96% year over year
- U.S. commercial revenue
- $984 million, up 148%
- U.S. government revenue
- $953 million, up 96%
- 2026 revenue forecast
- $8.53 billion to $8.534 billion
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What people are saying
This is not mere growth. It is a pace of expansion that represents a degree of intensity and sustained momentum that we believe is unprecedented in recent economic history.