Palantir Technologies Inc. reported third-quarter 2025 revenue of $1.18 billion, beating analyst expectations of $1.09 billion, with earnings per share of 21 cents on an adjusted basis, surpassing the 17-cent estimate.
Revenue surged 63% year-over-year from $725.5 million, marking the second consecutive quarter above $1 billion in sales. Net income more than tripled to $475.6 million from $143.5 million a year earlier.
The company raised its fourth-quarter revenue guidance to $1.33 billion, well above the $1.19 billion analyst consensus, and boosted full-year sales expectations to $4.4 billion from $4.17 billion. Free cash flow projection was increased to between $1.9 billion and $2.1 billion.
U.S. government revenue jumped 52% to $486 million, driven by contracts like a potential $10 billion deal with the U.S. Army, while U.S. commercial business more than doubled to $397 million, with total contract value soaring over fourfold to $1.31 billion. Palantir credited growth to AI software adoption and new partnerships with Snowflake, Lumen, and Nvidia.
Despite the strong performance, shares fell 4-6% in after-hours and early Frankfurt trading, erasing gains as the stock has surged over 170% in 2025, with a market cap exceeding $490 billion. CEO Alex Karp defended the elevated valuation, stating weaker AI companies "are going to disappear very quickly" and emphasizing "authentic and substantive" growth. Other tech stocks like Meta, Tesla, and Nvidia also traded lower amid broader market declines.
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