Palantir beats Q3 forecasts as US commercial revenue overtakes government for first time
The big-data analytics company reported adjusted earnings per share of 44 cents, exceeding forecasts. This marks the third guidance raise in 2024. A key milestone is the shift in revenue composition, with commercial business now outpacing the company's traditional government sector. The stock gained over 1% on the news.
Key points
- Beat Q3 EPS estimates at 44 cents versus 21 cents prior year
- Raised full-year guidance for third time in 2024
- Commercial revenue now exceeds government revenue
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