Palantir beats Q3 estimates, lifts 2026 revenue outlook

Palantir Technologies ↘ 1.65% reported third-quarter revenue of $2.313 billion on Monday, November 2, 2026, up 96% from a year earlier. It was the first quarter in which the company's sales topped $2 billion, and it also raised its full-year outlook, according to its earnings release. The bigger change sits inside the numbers. U.S. commercial revenue rose 148% to $984 million and passed U.S. government revenue, which came in at $953 million, for the first time in the company's history.finance.yahoo.com

Beat on revenue and earnings

Revenue came in well above the $2.18 billion analysts expected, and adjusted earnings of 44 cents per share topped the 41-cent consensus, Benzinga reported. Total U.S. revenue grew 119% to $1.937 billion. Adjusted operating income reached $1.427 billion, a 62% margin, and GAAP net income was $1.128 billion. The company put its Rule of 40 score, which adds revenue growth to profit margin, at 158%, the release showed.benzinga.com+1

"Our U.S. commercial revenue has surpassed our U.S. government revenue for the first time in our company's history," CEO Alex Karp said. He tied the results to what he called a "Sovereign AI movement" that is splitting institutions into "haves and have nots." Benzinga also quoted him: "It would be an understatement to say that our results this past quarter were extraordinary." Shares rose in after-hours trading after the report.benzinga.com

Guidance moves higher again

Palantir now expects full-year 2026 revenue of $8.530 billion to $8.534 billion, which works out to about 91% growth. That compares with its prior range of $8.15 billion to $8.16 billion and analyst estimates of $8.20 billion, according to Benzinga. It raised its U.S. commercial forecast to more than $3.559 billion, or growth of at least 143%, up from the earlier floor of 134%. Adjusted free cash flow guidance rose to $4.8 billion to $5.0 billion. For the fourth quarter, the company expects revenue of $2.649 billion to $2.653 billion, the release said.finance.yahoo.com+1

The new forecast follows an August update in which Palantir had lifted its 2026 outlook to growth of at least 82%, EconoTimes noted.econotimes.com

A slower signal in bookings

Not every number grew as fast. Total contract value, a measure of new bookings, rose just 6% to $2.918 billion. U.S. commercial contract value grew 11% to $1.463 billion, the company disclosed. 24/7 Wall St. said the gap between bookings and headline revenue growth is one investors focused on cash quality will want to track.247wallst.com+1

Before the report, Yahoo Finance noted that the results would test how well Palantir's stock was holding up during a broader selloff in AI stocks. The shares had dipped 1.5% in October, while the Invesco QQQ Trust ↗ 0.62% fell nearly 7%.finance.yahoo.com