Palantir U.S. commercial revenue tops government revenue
Palantir reported third-quarter revenue above $2 billion and net income of $1.13 billion, with U.S. commercial revenue surpassing U.S. government revenue for the first time. Shares fell in premarket trading on Tuesday after the results.
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Palantir reported third-quarter revenue above $2 billion, nearly double a year earlier, and net income of $1.13 billion, or 44 cents a share, as businesses adopted more of its artificial intelligence tools. U.S. commercial revenue rose 148% to $984 million, surpassing U.S. government revenue of $953 million for the first time. The company lifted full-year U.S. commercial guidance to more than $3.56 billion. Shares fell in premarket trading on Tuesday after the results, even though the quarter beat estimates, as slower U.S. commercial contract growth gave some analysts pause.
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Palantir shares fall despite earnings beat as commercial growth slows
Palantir shares fell in premarket trading on Tuesday after the company reported third-quarter results that beat Wall Street estimates. U.S. commercial revenue topped government revenue for the first time, but a deceleration in U.S. commercial contract growth gave some Wall Street analysts pause. The stock slid alongside Apple, which also reported after the bell on Monday.
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- 2 NovNew development
Palantir's U.S. commercial revenue tops government for first time
Palantir beat third-quarter estimates after reporting revenue above $2 billion, nearly double a year earlier, and net income of $1.13 billion, or 44 cents a share, as businesses adopt more of its artificial intelligence tools. U.S. commercial revenue rose 148% to $984 million, surpassing U.S. government revenue of $953 million for the first time. The company lifted full-year U.S. commercial guidance to more than $3.56 billion.