Thanks to AI: Palantir's revenue surged nearly 100% to over $2 billion in the quarter

Palantir reported revenue of $2.31 billion in the third quarter of 2026, a 96% increase compared to the same quarter last year, above analyst expectations. Earnings per share stood at 44 cents. The company raised its full-year 2026 revenue guidance.

Artificial intelligence company Palantir reported revenue of $2.31 billion in the third quarter of 2026, a 96% increase compared to the same quarter last year, above analyst expectations of $2.18 billion. Earnings per share stood at 44 cents, compared to a forecast of 41 cents. Revenue from the U.S. government segment grew to $953 million, and revenue from the commercial market rose to $984 million – the first time the commercial market has surpassed the government segment. The company raised its full-year 2026 revenue guidance to a range of $8.53-$8.534 billion, and expects fourth-quarter revenue of $2.653-$2.659 billion. Palantir's stock has risen about 600% over the past two years, but fell 40% in the past year and recorded only a 4% increase since the beginning of the year. CEO Alex Karp emphasized the sovereign AI system AIP as a growth driver.