Palantir Raises 2026 Outlook as Quarterly Revenue Nearly Doubles

Is demand for enterprise AI still accelerating? Palantir reported third-quarter revenue of $2.31 billion, up 96% from a year earlier, and raised its 2026 forecast. The company now expects full-year revenue of about $8.53 billion, supported by a fourth-quarter guide of roughly $2.65 billion. Investors reacted immediately. That surprised many.

U.S. commercial revenue climbed 148% to $984 million, passing U.S. government revenue of $953 million for the first time. That milestone suggests corporate customers are adopting the company's software faster than many analysts expected, reducing its reliance on public-sector contracts that long defined the business. The shift matters for the company's future growth story and valuation.

Reuters reported the quarterly outlook beat Wall Street estimates, yet shares fell nearly 3% in extended trading, partly because growth in U.S. commercial total contract value slowed sharply from the prior quarter. The mixed reaction shows how high expectations have become for AI-related companies, where even strong results can disappoint. Analysts will watch upcoming quarters to see whether the pace holds.