Palantir Surges on Strong Q3 Earnings and AI-Driven Revenue Forecast Boost

Palantir raises its 2024 revenue forecast for the third time, driven by robust demand for AI technologies.

Palantir's third-quarter revenue rose 30% year-over-year to $725.52 million, surpassing analysts' expectations.
The company reported a net income of $144 million, doubling from the previous year, with earnings per share at 6 cents.
U.S. commercial revenue increased by 54%, while U.S. government revenue saw a 40% rise, highlighting strong domestic growth.
Palantir raised its full-year revenue forecast to between $2.805 billion and $2.809 billion, up from the previous range of $2.742 billion to $2.750 billion.
Shares have climbed over 140% in 2024, reflecting investor confidence in Palantir's AI capabilities and market expansion.