Is Palantir Stock a Buy on the Dip as Revenue Continues to Surge?
Key PointsPalantir saw another quarter of revenue growth acceleration.
Palantir Technologies (PLTR) reported strong Q3 results, with revenue growth accelerating to 96% year-over-year. The company's Q3 revenue of $2.31 billion surpassed expectations, and adjusted earnings per share reached $0.44, surpassing analyst consensus. U.S. commercial revenue grew by 148%, while the company added 29% more U.S. commercial customers and 5% more overall customers.
Government revenue surged 81% year-over-year. Palantir projected Q4 revenue growth of 88% and raised its annual revenue guidance to $8.53 billion. Despite a 15% dip in stock price, the company's net revenue retention and expanding customer base suggest potential for significant upside, particularly with projected revenue growth in the coming years.
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