Palantir Stock Surges on Strong Q3 Earnings and AI Platform Adoption
Palantir Technologies (PLTR) reported third-quarter earnings that exceeded analyst expectations, driven by robust adoption of its Artificial Intelligence Platform (AIP). The stock ROSE 4% in after-hours trading as revenue climbed 63% year-over-year to $1.18 billion, surpassing estimates of $1.09 billion. U.S. commercial revenue skyrocketed 121%, underscoring accelerating demand for its AI solutions.
The company secured a record $2.76 billion in total contract value, a 151% increase from the prior year. U.S. commercial deals alone accounted for $1.31 billion, up 342%. Despite the strong performance, Wall Street maintains a cautious stance with a Hold rating and an average price target suggesting 25% downside potential.