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Palantir Nearly Doubles Revenue to $2.31 Billion, Lifts Full-Year Guidance to $8.53 Billion as US Commercial AI Demand Surges 148%

News · By: AIReport Admin · 2 hours ago · 👁 11
Palantir Nearly Doubles Revenue to $2.31 Billion, Lifts Full-Year Guidance to $8.53 Billion as US Commercial AI Demand Surges 148%

Palantir reported Q3 revenue of $2.31 billion, up 96% year over year and far above the roughly $2.18 billion consensus, with US commercial revenue surging 148% to $984 million. The company raised full-year revenue guidance to about $8.53 billion from $8.15-8.16 billion and guided Q4 to $2.65 billion versus $2.46 billion expected. Adjusted EPS was $0.44 against $0.41 estimates, with a 62% adjusted operating margin.

Palantir's AI boom is not decelerating — it is compounding. The Denver-based data-analytics company reported third-quarter revenue of $2.31 billion, up 96% year over year and well above the roughly $2.18 billion analysts expected. US commercial revenue, the segment most directly powered by companies deploying AIP, its artificial-intelligence platform, grew 148% to $984 million, nearly doubling its share of the business in the space of a year.

Profitability kept pace with growth. Adjusted earnings per share came in at $0.44 versus $0.41 expected, adjusted operating profit reached $1.43 billion against a $1.30 billion consensus, and the adjusted operating margin hit 62%, ahead of the 60.3% analysts modeled. The company ended the quarter with $3.62 billion in cash, beating estimates of $2.88 billion.

The guidance is where the print turns aggressive. Palantir raised its full-year 2026 revenue forecast to about $8.53 billion, up from the $8.15-8.16 billion it projected previously and above the $8.2 billion consensus. It now expects adjusted operating profit of $5.25 billion for the year and adjusted free cash flow of $4.8-5.0 billion, both raised. For the fourth quarter, it guided revenue of $2.65 billion against $2.46 billion expected, with adjusted operating profit of $1.64 billion versus $1.41 billion estimated.

A 96% growth rate at a company of this revenue scale is close to unprecedented in enterprise software. It reflects a US commercial business that has become the reference deployment for large language-model-driven operations — Palantir's AIP turns a company's own data and workflows into agent-ready pipelines — layered on top of a government business that continues to expand as defense agencies adopt the same AI tooling.

The results land in a nervous market. Palantir reported on the same day the broader AI-linked complex was repricing: Anthropic's IPO valuation expectations came down, Oracle fell more than 5% on a $20 billion equity-and-bond raise to fund data centers, and Kioxia's shares slid nearly 16% on a cautious outlook. Against that backdrop, Palantir's print is the strongest possible counterargument — a company whose AI revenue is not a promise but a 96% growth rate.

What it means: the bears' case on AI software has been that enterprises will tire of pilots before they reach production. Palantir's quarter — nearly doubling revenue with a 62% margin and guiding higher across every line — is the most direct rebuttal yet. The question is no longer whether enterprises spend on AI operations platforms, but how long supply of the willing and able integrators can keep up with demand.

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