Palantir Raises Full-Year Outlook: $1.3B Q4 Revenue Projection
Wall Street was pleasantly surprised by Palantir’s (PLTR) fourth-quarter guidance on Monday. Concerns have been raised by some analysts, meanwhile, over the possible effects of the current US government shutdown. Palantir stated that it anticipates somewhat more than $1.3 billion in revenue for the fourth quarter. This amount exceeds the $1.2 billion forecasted by Wall Street analysts that Bloomberg tracks.
The defense technology company anticipates adjusted operating income for the period to be between $695 million and $699 million, which is higher than the estimated $575 million. Additionally, the business raised its full-year revenue forecast from $4.15 billion to $4.4 billion. Outside of stock trading hours, the figures showed a gain of up to 7% right after they were released.
Palantir Stock Rallies as Q3 Earnings Crush Analyst Estimates
Additionally, Palantir’s third-quarter performance exceeded analyst projections. Its adjusted earnings per share (EPS) of $0.21 more than doubled its EPS of $0.10 in the third quarter of 2024 and beat Wall Street‘s $0.17 estimate. For the three months ended September 30, the defense technology business generated $1.18 billion in revenue. This amount surpasses the $1.09 billion predicted by Wall Street analysts surveyed by Bloomberg and is a 63% increase over the prior year.
Palantir’s U.S. Revenue Surges, Driven by Explosive Commercial Growth
Palantir‘s US business was the main driver of that revenue beat. Its revenue from US government contracts exceeded the $471 million forecast by 52%, reaching $486 million. On the other hand, the company’s US commercial business saw revenue climb 121% year over year to $397 million, exceeding the $342 million projection. In an email to shareholders on Monday, CEO Alex Karp described Palantir’s commercial operations in the United States as an absolute juggernaut.
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