Palantir Q3 Revenue Surges 96% to $2.31 Billion, Beating Wall Street Estimates
Palantir reported third-quarter 2026 revenue of $2.31 billion, a 96% increase year-over-year that beat Wall Street forecasts, driven by strong commercial and US government sector growth.
Palantir Technologies reported third-quarter 2026 revenue of $2.31 billion, surpassing Wall Street expectations of $2.18 billion and marking a 96% year-over-year increase. Earnings per share reached 44 cents, topping the 41-cent consensus estimate. Following the report, the company's stock rose nearly 2% in after-hours trading.
US government sector revenue climbed to $953 million, beating forecasts of $861.5 million, while US commercial market revenue advanced to $984 million, topping the projected $942.7 million. According to market reports, this marks the first time commercial market revenue has surpassed government sector revenue.
Full-Year Guidance and Market Performance
For the fourth quarter, Palantir projects revenue between $2.653 billion and $2.659 billion. The company also raised its full-year revenue outlook to a range of $8.53 billion and $8.534 billion.
Palantir shares have surged roughly 600% over the past two years, though the stock has experienced sharp volatility recently, dropping 40% before recovering to post a modest 4% gain since the beginning of the year. In comparison, Nvidia grew 10%, Microsoft advanced 8%, the S&P 500 gained 10%, and the Nasdaq rose 12% over the same period.
Led by co-founder and CEO Alex Karp, Palantir provides AI-driven software solutions primarily to government and intelligence agencies, while actively expanding into commercial and international markets. The company's Artificial Intelligence Platform (AIP), launched in 2023, enables enterprises and government bodies to deploy sovereign AI models securely on their internal data without depending on external commercial providers.
