From CNBC · Samantha Subin · · 1m 20s
Palantir's commercial business overtakes government for first time
The data analytics company beat earnings estimates as U.S. commercial revenue surged 148 percent, driven by demand for artificial intelligence tools.
In brief
The data analytics company beat earnings estimates as U.S. commercial revenue surged 148 percent, driven by demand for artificial intelligence tools. Palantir reported third-quarter earnings above Wall Street forecasts, with U.S. commercial revenue jumping 148 percent to surpass government revenue for the first time…
Palantir beats Wall Street estimates
Palantir reported third-quarter earnings per share of forty-four cents adjusted versus forty-one cents expected, and revenue of two point three one billion dollars versus two point one eight billion dollars expected.
Commercial revenue surpasses government
U.S. commercial revenue jumped one hundred forty-eight percent to nine hundred eighty-four million dollars, surpassing U.S. government revenue of nine hundred fifty-three million dollars, which was up ninety-six percent.
Revenue nearly doubles year-on-year
Revenue nearly doubled from a year ago and blew past two billion dollars for the first time ever.
CEO credits AI adoption and no salespeople
CEO Alex Karp told CNBC that the business is succeeding without salespeople. He said, "I don't believe anyone's had consistent results like this in the history of software AI, ever."
“I don't believe anyone's had consistent results like this in the history of software AI, ever.”
Palantir raises full-year guidance
Palantir lifted its guidance, saying it now expects U.S.commercial revenue in excess of three point five six billion dollars for the full year.
What it means
Palantir reported third-quarter earnings above Wall Street forecasts, with U.S. commercial revenue jumping 148 percent to surpass government revenue for the first time.
