Palantir (PLTR) Q3 2026 Results

Palantir topped Wall Street estimates for the third quarter after the bell Monday, with U.S. business revenue outpacing the government for the first time as businesses further adopted the company’s artificial intelligence tools.

Here are the company’s results compared to LSEG estimates:

• Earnings per share: 44 cents adjusted versus 41 cents expected
• Income: $2.31 billion versus $2.18 billion expected

Revenue nearly doubled from last year and surpassed $2 billion for the first time, Palantir said. Net income more than doubled, from about $476 million, or 18 cents per share, to $1.13 billion, or 44 cents per share.

“I don’t believe anyone has ever achieved consistent results like this in the history of software AI,” CEO Alex Karp told CNBC’s Seema Mody in an interview, adding that the company was successful without salespeople.

Palantir has long been known for its strength in the government sector, but its commercial segment caught up in the third quarter.

U.S. commercial revenues jumped 148% to $984 million, outpacing U.S. government revenues of $953 million, up 96%. The company’s U.S. commercial revenue has increased more than fivefold over the past two years.

Palantir raised its forecast, saying it now expects U.S. commerce revenue to “exceed” $3.56 billion for the full year. Last quarter, the company increased its guidance to $3.42 billion. The company expects revenue of approximately $2.65 billion for the fourth quarter and approximately $8.53 billion for the full year 2026.

Karp has openly supported the use of open-weight models and has criticized major AI labs, which, he told CNBC earlier this year, force companies to sell their data sovereignty. Karp also reiterated his recent calls for nationalization of AI labs on Monday, calling it the “only realistic way” to handle accountability.

In September, Karp joined top tech CEOs at the White House as calls for regulation grew following AI researchers’ claims that the technology was killing humanity by more than 10 percent.

“My message to everyone is: be wary of thinking you can delay the future of AI,” he told CNBC. “The future is here. Its political ramifications are there.”