Q3 24 EPS
$0.10
BEAT +11.11%
Est. $0.09
Q3 24 Revenue
$725.5M
BEAT +3.48%
Est. $701.1M
vs S&P Since Q3 24
+181.0%
BEATING MARKET
PLTR +205.9% vs S&P +25.0%
Market Reaction
Did PLTR Beat Earnings? Q3 2024 Results
Palantir Technologies turned in a standout third quarter, posting adjusted EPS of $0.10 against a consensus estimate of $0.09, an 11.11% beat, while revenue climbed 30% year-over-year to $725.52 million, topping the $701.13 million estimate by 3.48%.… Read more Palantir Technologies turned in a standout third quarter, posting adjusted EPS of $0.10 against a consensus estimate of $0.09, an 11.11% beat, while revenue climbed 30% year-over-year to $725.52 million, topping the $701.13 million estimate by 3.48%. The single clearest engine behind those numbers was an accelerating U.S. Business, where commercial revenue surged 54% year-over-year to $179 million as enterprises rushed to deploy the company's AI platform, a wave CEO Alexander Karp described as "unrelenting AI demand that won't slow down." Profitability moved sharply alongside growth, with GAAP operating income nearly tripling year-over-year to $113.14 million and adjusted free cash flow hitting $434.54 million, a 60% margin. The company's planned transfer to the Nasdaq, anticipated to bring Nasdaq 100 eligibility, added a further catalyst for investor enthusiasm around the print. Management raised full-year 2024 revenue guidance to approximately $2.81 billion and now expects U.S. Commercial revenue to exceed $687 million, reflecting at least 50% growth, while projecting Q4 revenue of $767 to $771 million.
Key Takeaways
- • Unrelenting AI demand driving U.S. revenue acceleration
- • U.S. commercial revenue grew 54% year-over-year
- • U.S. government revenue grew 40% year-over-year
- • 104 deals closed over $1 million in the quarter
- • Customer count grew 39% year-over-year
- • Rule of 40 score of 68%
PLTR YoY Financials
Q3 2024 vs Q3 2023, source: SEC Filings
PLTR Revenue by Segment
With YoY comparisons, source: SEC Filings
PLTR Revenue by Geography
With YoY comparisons, source: SEC Filings
“We absolutely eviscerated this quarter, driven by unrelenting AI demand that won't slow down. This is a U.S.-driven AI revolution that has taken full hold. The world will be divided between AI haves and have-nots. At Palantir, we plan to power the winners.”
— Alexander C. Karp, Q3 2024 Earnings Press Release
PLTR Earnings Trends
PLTR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PLTR EPS Trend
Earnings per share: estimate vs actual
PLTR Revenue Trend
Quarterly revenue: estimate vs actual
PLTR Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $0.18 | $0.25 | +38.89% | $1.41B | +5.74% |
| FY Full Year | $0.73 | $0.75 | +3.45% | $4.48B | +1.74% |
| Q3 25 BEAT | $0.17 | $0.21 | +25.45% | $1.18B | +8.19% |
| Q2 25 BEAT | $0.14 | $0.16 | +15.52% | $1.00B | +6.84% |
| Q1 25 BEAT | $0.13 | $0.13 | +1.09% | $883.9M | +2.52% |
| Q4 24 BEAT FY | $0.11 | $0.14 | +23.67% | $827.5M | +7.60% |
| FY Full Year | $0.38 | $0.41 | +7.02% | $2.87B | +2.08% |
| Q3 24 BEAT | $0.09 | $0.10 | +11.11% | $725.5M | +3.48% |
| Q2 24 BEAT | $0.08 | $0.09 | +12.50% | $678.1M | +3.99% |
| Q1 24 BEAT | $0.08 | $0.08 | +0.00% | $634.3M | +0.00% |