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Palantir’s US commercial sales top government revenue for the first time
Palantir’s US commercial business brought in more revenue than its US government work for the first time in the third quarter. US commercial revenue rose 148% from a year earlier to $984m, the company said in its earnings release on Monday.
Total revenue also rose 96%, to $2.31bn, the first quarter above $2bn.
Analysts had expected $2.18bn, according to LSEG estimates reported by CNBC. Adjusted earnings of 44 cents a share beat the 41 cents analysts expected.
Net income more than doubled to $1.13bn, or 44 cents a share, from $476m a year earlier.
“I don’t believe anyone’s had consistent results like this in the history of software AI, ever,” chief executive Alex Karp told CNBC’s Seema Mody.
Karp also told CNBC the business is succeeding without salespeople.
Palantir raised its full-year revenue forecast to between $8.530bn and…
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