Palantir beats Q3 forecasts as US commercial revenue overtakes government for first time
Shares of Palantir Technologies Inc. rose more than 1% in late trading today after the big-data analytics company beat third-quarter expectations and raised its full-year revenue guidance for the third time this year. For the quarter that ended on Sept. 30, Palantir reported adjusted earnings per share of 44 cents, up from 21 cents in […] The post Palantir beats Q3 forecasts as US commercial…
Palantir Technologies reported strong Q3 results, with adjusted earnings per share of 44 cents, surpassing analyst expectations of 41 cents per share. The company's revenue of $2.313 billion marked a 96% increase year-over-year, with U.S. commercial revenue overtaking government revenue for the first time. U.S. commercial sales reached $984 million, up 148% year-over-year, while government sales rose 96% to $953 million.
Palantir raised its full-year revenue guidance for the third time this year, with an expected $2.649 billion to $2.653 billion in fourth-quarter revenue and adjusted operating income of $1.640 billion to $1.644 billion.
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