帕兰提尔利润大涨，美国商业收入首次超过政府

Palantir's U.S. commercial revenue this quarter was $984 million.

This figure surpassed, for the first time, the $953 million it earned from the U.S. government.

Total quarterly revenue was $2.31 billion, up 96% year-over-year, breaking $2 billion in a single quarter for the first time.

Wall Street had originally expected only $2.18 billion.

Breaking it down, U.S. commercial revenue rose nearly 150%, and the U.S. government segment also rose nearly 100%.

Profit was $1.13 billion, or 44 cents per share.

In the same period last year, this figure was $475.6 million, or 18 cents per share.

Adjusted earnings per share were 44 cents, above analysts' expectations of 41 cents.

However, the pace of contract signings is slowing; this quarter saw 212 deals closed, with a total value of $2.9 billion.

The previous quarter had 220 deals, with a total value of $3.4 billion.

The company raised its full-year revenue guidance to around $8.53 billion.

Fourth-quarter guidance is around $2.65 billion.

U.S. commercial revenue is expected to grow at least 140% for the full year, exceeding $3.56 billion.

CEO Alex Karp wrote in a letter to shareholders that this is not just growth.

He said it is a rate of expansion whose intensity and sustainability, in his view, is unmatched in recent economic history.

Palantir's assessment is that enterprises are turning away from AI labs.

They prefer to keep control over the use of this technology in their own hands.

Karp mocked those labs for using companies' proprietary data to train models.

In September, Palantir announced a partnership with Nvidia, connecting its software with Nvidia's open-weight models.

According to the company, users can thus maintain control over their own data.

But analyst Louie DiPalma pointed out a risk in another direction in a research note.

He said the main risk Palantir faces is increasingly intense competition from large-model companies.

Some models can already ingest disparate datasets, draw conclusions, and assist with decisions, at a fraction of the cost.

Meanwhile, these model companies are poaching talent from Palantir.

After the earnings release, the company's stock fell more than 3% in after-hours trading.

Its market capitalization has exceeded $400 billion, and concerns are emerging among investors about whether growth can be sustained and how the valuation can be justified.

In the U.S., Palantir's technology underpins the Army's new command-and-control system.

The Pentagon's Maven Smart System for targeting also relies on it.

The Marine Corps recently expanded access to Maven across its units.

In the U.K., Parliament is facing increasing pressure.

The pressure points to a contract managed by Palantir for public health data, and calls to terminate it are growing louder.

Ryan Lee, an executive at Direxion, which provides exchange-traded funds, put it more directly.

In his view, unless there is a major political shift in Europe, overseas business will struggle to expand substantially.

In the U.S., commercial customers have for the first time run ahead of the government.

And in Europe, controversy surrounding government contracts is growing.