Palantir reported Q3 2026 revenue of $2.313 billion on November 2, up 96% from a year earlier and ahead of the $2.18 billion LSEG estimate, its first quarter above $2 billion.It raised its full-year rPalantir reported Q3 2026 revenue of $2.313 billion on November 2, up 96% from a year earlier and ahead of the $2.18 billion LSEG estimate, its first quarter above $2 billion.It raised its full-year r
Palantir Q3 2026 Earnings Results: Revenue vs Estimates, Raised Guidance and Stock Reaction
Palantir reported Q3 2026 revenue of $2.313 billion on November 2, up 96% from a year earlier and ahead of the $2.18 billion LSEG estimate, its first quarter above $2 billion.
It raised its full-year revenue guidance to $8.530–8.534 billion from $8.150–8.158 billion, and guided Q4 revenue of about $2.65 billion against the $2.46 billion analysts expected, Reuters reported.
Shares swung in extended trading, rising almost 1% at first before dipping about 3%, as investors weighed the beat against a valuation that one analyst told Reuters was priced for perfection.
On MEXC, the PLTRUSDT perpetual contract was down 2.8% at 9:00 p.m. ET.
Palantir Q3 2026 Results vs Estimates
- Revenue: $2.313 billion vs $2.18 billion expected (LSEG). Beat by about 6%.
- Adjusted EPS: $0.44 vs $0.41 expected (LSEG, as reported by CNBC). Beat.
- Q4 revenue guidance: $2.649–2.653 billion vs $2.46 billion expected (LSEG). Above.
- FY2026 revenue guidance: raised to $8.530–8.534 billion, about 91% growth, from $8.150–8.158 billion.
- FY2026 US commercial guidance: raised to more than $3.559 billion, at least 143% growth, from more than $3.424 billion.
Key Takeaways
- Revenue nearly doubled: total revenue grew 96% and US revenue 119%, to $1.937 billion.
- A first: US commercial revenue of $984 million, up 148%, passed US government revenue of $953 million for the first time.
- Profitability: adjusted operating margin reached 62%, and the Rule of 40 score was 158%.
- History says beats are not enough: Palantir beat revenue estimates in all of its previous 12 reports, yet the stock fell after 4 of them.
- MEXC reaction: PLTRUSDT spiked to 187.58 USDT after the release, then fell to 171.73 within two hours, on release-hour turnover 18 times the 24-hour average.
Why Did Palantir Stock Fall After a Beat-and-Raise Quarter?
Palantir delivered a clear beat and raise, so the drop says more about expectations than results.
Ryan Lee of Direxion told Reuters the stock pulled back because AI stocks went into earnings priced for perfection; Reuters put Palantir's 12-month forward P/E at 83.38.
Some growth lines also cooled. US commercial grew 148%, against 149% in Q2. Total contract value booked in the quarter rose only 6% to $2.918 billion, and US commercial remaining deal value of $6.517 billion was up 4% from Q2.
The selling began before the report: PLTRUSDT on MEXC fell 4.8% during the regular session, from 187.78 USDT at 9:00 a.m. ET to 178.82 at 4:00 p.m.
Palantir Q3 2026 Revenue, Profit and Cash Flow
All figures come from Palantir's Q3 2026 earnings release.
- Revenue: $2.313 billion, up 96% year over year and 20% from Q2.
- US commercial: $984 million, up 148%.
- US government: $953 million, up 96%.
- Adjusted operating income: $1.427 billion, a 62% margin.
- GAAP net income: $1.128 billion; GAAP diluted EPS of $0.44.
- Adjusted free cash flow: $1.216 billion, a 53% margin.
- Cash: $10.4 billion in cash, cash equivalents and US Treasury securities.
Palantir closed 212 deals worth at least $1 million, including 64 worth at least $10 million, and had 1,090 customers over the trailing 12 months, according to Reuters.
CEO Alex Karp wrote in his shareholder letter that Palantir has "essentially doubled our entire business" from a year earlier.
What Is Palantir's Guidance for Q4 and 2026?
- Q4 2026 revenue: $2.649 billion to $2.653 billion, about 88% growth at the midpoint.
- Q4 adjusted operating income: $1.640 billion to $1.644 billion.
- FY2026 revenue: $8.530 billion to $8.534 billion, up from $8.150–8.158 billion.
- FY2026 adjusted operating income: $5.245 billion to $5.249 billion, up from $4.889–4.897 billion.
- FY2026 adjusted free cash flow: $4.8 billion to $5.0 billion, up from $4.5–4.7 billion.
Palantir still expects positive GAAP operating income and net income in every quarter of 2026.
How Does This Compare With Palantir's Past Earnings Reactions?
Our Palantir earnings date and results history tracks the 12 reports before this one.
- Beats: Palantir beat revenue estimates in all 12, and beat or matched EPS estimates in all 12.
- Reaction: the stock rose after 8 reports and fell after 4, with an average move of 16.3% either way.
- Pattern: all four drops followed revenue beats. In the two quarters where US commercial growth slowed by more than one point from the prior quarter, the stock fell both times.
This quarter's US commercial slowdown, from 149% to 148%, was one point and so sits on the edge of that pattern.
The last report shows how large the upside can be: after Q2 results in August, which also raised guidance, shares jumped 14% in extended trading, Reuters reported.
How PLTR Futures Reacted on MEXC
PLTRUSDT on MEXC trades 24/7, so the swing after the release could be followed into the Asian morning.
MEXC PLTRUSDT hourly closes and turnover from 8:00 a.m. to 9:00 p.m. ET on November 2, 2026. Source: MEXC public futures API.
Price: the contract closed the 3:00–4:00 p.m. ET hour at 178.82 USDT. In the release hour it ranged from 173.70 to 187.58, up as much as 4.9%, and closed at 180.96, up 1.2%. During the call hour it fell to 171.73, down 4.0%, and stood at 173.84 at 9:00 p.m., down 2.78%.
Trading activity: release-hour turnover was about 2.65 million USDT, 18 times the hourly average of the preceding 24 hours. The five hours after the close traded about 3.30 million USDT, more than the 2.28 million USDT traded from 9:00 a.m. to 4:00 p.m. ET.
Premium to index: hourly closes stayed within about 10 basis points of the index price, so the contract tracked the stock's after-hours swings.
Funding: PLTRUSDT settles every eight hours, and every settlement over the past two days was 0%, including the first one after the release at 00:00 UTC on November 3.
Following PLTR Through MEXC
The PLTRUSDT perpetual contract on MEXC offers a 24/7 market to follow Palantir around earnings and outside Nasdaq hours, as covered in this guide to trading stock futures on MEXC.
For eligible users considering share ownership, MEXC RealStocks is a separate route; check availability and supported securities directly.
Perpetual contracts do not confer shareholder rights and carry funding, leverage and liquidation risks.
FAQ
Did Palantir beat earnings expectations in Q3 2026?
Yes. Revenue of $2.313 billion beat the $2.18 billion LSEG estimate, adjusted EPS of $0.44 beat the $0.41 expected, and Q4 revenue guidance of about $2.65 billion topped the $2.46 billion consensus.
Why is Palantir stock down after earnings?
The results beat and guidance rose, but the stock was priced for perfection at about 83 times forward earnings, according to Reuters. Shares dipped about 3% in extended trading after an early gain.
What is Palantir's 2026 revenue guidance?
Palantir raised FY2026 revenue guidance to $8.530 billion to $8.534 billion, about 91% growth, from $8.150 billion to $8.158 billion.
How fast is Palantir's US commercial business growing?
US commercial revenue grew 148% to $984 million in Q3 2026 and passed US government revenue for the first time. Palantir expects more than $3.559 billion for the full year.
How does Palantir stock usually react to earnings?
Over the 12 reports before this one, Palantir beat revenue estimates every time, and the stock rose after 8 and fell after 4, with an average move of 16.3% either way.
How did PLTR futures react on MEXC?
PLTRUSDT rose as much as 4.9% after the release, then fell to 171.73 USDT during the call and stood at 173.84 USDT at 9:00 p.m. ET, down 2.78%, with funding unchanged at 0%.
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The articles shared on this page are sourced from public platforms and are provided for reference only. They do not represent the position or views of MEXC. All rights belong to James Mitchell. If you believe any content infringes upon the rights of a third party, please contact service@support.mexc.com for prompt removal. MEXC does not guarantee the accuracy, completeness, or timeliness of any content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be interpreted as a recommendation or endorsement by MEXC. For expert insights and in-depth analysis, visit MEXC Learn.
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