Palantir revenue jumps 96% to $2.313 billion in third quarter
Key Facts
Palantir revenue jumped 96% year over year in the third quarter of 2026 to $2.313 billion, surpassing $2 billion in a single quarter for the first time, according to the company’s filing with the U.S. Securities and Exchange Commission. Revenue rose 20% from the previous quarter, reflecting an expansion in the company’s business during the period. In the United States, commercial revenue increased 148% year over year and 29% quarter over quarter to $984 million. The company said its U.S. commercial business exceeded U.S. government revenue for the first time in its history. Summing up the growth, the company said revenue “grew 96% year over year and 20% quarter over quarter to $2.313 billion.”
In third-quarter results from technology companies, AMD reported revenue of $13.377 billion, up 45% year over year and 16% from the previous quarter, according to its filing with the U.S. regulator. Net income was $2.428 billion, while operating income rose 123% year over year to $2.832 billion. Data centers were the biggest revenue driver, reaching a record $8.5 billion, up 97% from the year-earlier period. AMD attributed the performance to strong demand for EPYC processors and the launch of Instinct MI450 accelerators. The results highlight the growing contribution of data-center business to the company’s growth, alongside faster overall revenue growth than in the previous quarter.
Apple, meanwhile, reported on November 2 quarterly revenue of $114.5 billion in its fiscal fourth quarter ended September 26, 2026, up 12% year over year. Diluted earnings per share were $2.10, up 14% from a year earlier, while gross margin reached 47.9%. The company said the positive impact of tariff refunds added about one percentage point to the margin. iPhone revenue set a quarterly record, and services revenue reached an all-time high. The company also described fiscal 2026 revenue of $479 billion as a record, saying the record September quarter capped a strong fiscal year.
By contrast, Apple’s share price did not match the strength of its results in the session following the announcement, falling 1.9% on November 3 even as earnings and revenue topped analysts’ expectations, according to the Associated Press. In the next session, on November 6, the stock closed at $342.37, according to EL7 data. Palantir closed at $160.38 on the same date, according to the same data. In the broader market, the Nasdaq rose 1.1% on Friday as AI stocks partially recovered from their earlier losses during the week. But it ended the week down 3.4%, a reminder that the session’s rebound did not erase the weekly decline.
FactSet tracking indicates that positive earnings-per-share surprises since September 30, led by the energy and information technology sectors, were the biggest contributor to an increase in the index’s earnings growth rate during the period. The three companies’ results show different growth drivers within technology: Palantir’s expanding U.S. commercial business, demand for AMD’s data-center products, and Apple’s record revenue. Palantir raised its 2026 annual revenue growth forecast to 91%, according to the headline of its results release. AMD expects fourth-quarter revenue of about $17 billion, plus or minus 3%. Apple declared a cash dividend of $0.27 per share, payable on November 16 to shareholders of record as of the close of November 12.