Palantir reported third-quarter revenue of $2.31 billion, up 96% year over year, and raised its 2026 forecast as U.S. commercial revenue surpassed U.S. government revenue for the first time.
The quarter ended Sept. 30. Revenue also increased 20% from the previous quarter, according to the company’s business update. Reuters reported that the result exceeded the $2.18 billion analyst average, citing LSEG data. Palantir’s second-quarter release had forecast third-quarter revenue of $2.160 billion-$2.164 billion, a range also covered in EconoTimes’ earlier preview of the results.
U.S. commercial revenue was $984 million, up 148% from a year earlier. U.S. government revenue rose 96% to $953 million. Palantir said the commercial figure exceeded government revenue in the United States for the first time.
For the fourth quarter, Palantir forecast revenue of $2.649 billion-$2.653 billion and adjusted operating income of $1.640 billion-$1.644 billion. Reuters reported an analyst average of $2.46 billion for fourth-quarter revenue. The company lifted its full-year revenue outlook to $8.530 billion-$8.534 billion, from its previous range of $8.150 billion-$8.158 billion.
Palantir reported second-quarter revenue of $1.935 billion in its Aug. 3 release. In its second-quarter shareholder letter, the company described partners as seeking more control over their data, AI prompts and organizational business intelligence. Chief Executive Alex Karp wrote in the third-quarter letter, “We have now essentially doubled our entire business since the same quarter last year.” The company also reported third-quarter GAAP net income of $1.13 billion and GAAP earnings per share of $0.44.
