Palantir’s US commercial revenue surpasses government for first time
Palantir reported a record third-quarter revenue of $2.31 billion, beating Wall Street estimates and nearly doubling year-over-year. The company’s US commercial segment grew 148% to $984 million, exceeding its US government revenue of $953 million for the first time. Net income more than doubled to $1.13 billion, driven by strong demand for its AI tools among businesses.
Key points
- US commercial revenue hit **$984 million**, surpassing government revenue of **$953 million** for the first time
- Net income more than doubled to **$1.13 billion**, with earnings per share at **44 cents**
- Full-year revenue guidance raised to **$8.53 billion**, up from **$8.3 billion** last quarter
Palantir lifted its full-year guidance to $8.53 billion, up from $8.3 billion last quarter. CEO Alex Karp has previously criticized AI labs over data sovereignty concerns and called for industry responsibility amid safety debates. The shift reflects Palantir’s growing focus on commercial AI applications beyond government contracts.
Palantir reports booming U.S. commercial revenue growth, topping government for first time
CNBC Technology · 2 November 2026
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