Palantir posts $2.3 billion in Q3 revenue as US commercial sales surpass government revenue

Palantir reported $2.3 billion in third-quarter revenue, equivalent to a $9.25 billion annualized run rate. For the first time, US commercial revenue exceeded revenue from US government customers: $984 million versus $953 million. The hosts said revenue had nearly doubled year over year and that shares were down around 2% at the time of the broadcast. They also described Palantir's commercial pitch as resembling Microsoft's: helping companies implement AI and transform their organizations. One participant stressed that the similarity was in the business message, not in the personalities of executives Alex Karp and Satya Nadella.