The Quarter in Brief
Palantir reported its third quarter of 2026, the three months to September 30, after the market closed on November 2. Revenue was $2.31 billion, up 96% from $1.18 billion a year earlier and the first quarter above $2 billion in the company's history. Reported earnings per share were $0.44, against $0.18. Adjusted earnings per share, Palantir's own measure that leaves out stock-based pay and the payroll taxes on it, were also $0.44, against $0.21.
Both figures were ahead of expectations: the analysts' consensus compiled by Financial Modeling Prep was about $2.18 billion of revenue and $0.41 of adjusted earnings per share. What set the quarter apart was the mix. Revenue from U.S. businesses grew 148% to $984 million and, for the first time, was larger than revenue from the U.S. government, which itself grew 96% to $953 million.