Palantir's CEO Says the Software Maker Is Seeing 'Otherworldly' Growth Driven by AI Demand

Core Insights - Palantir reported record quarterly results, exceeding analysts' expectations and raising its full-year revenue outlook for the third consecutive quarter [1][8]. Financial Performance - The company achieved adjusted earnings per share of $0.21, with revenue increasing by 63% year-over-year to a record $1.18 billion in the third quarter, significantly surpassing analysts' estimates [2]. - Palantir's U.S. commercial revenue surged 121% to $397 million, while U.S. government revenue rose by 52% to $486 million [3]. Growth Outlook - For the fourth quarter, Palantir anticipates revenue between $1.327 billion and $1.331 billion, raising its full-year revenue forecast to $4.396 billion to $4.4 billion, up from a previous estimate of $4.14 billion to $4.15 billion [5]. - This marks the third consecutive quarter in which the company has increased its revenue guidance [5]. Market Reaction - Following the earnings release, Palantir's shares rose over 5% in extended trading, reflecting strong investor sentiment despite concerns about potential overvaluation [4][6].