• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

3

Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow

3

Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
Big TechFortune 500 Companies

Palantir quarterly revenue hits $1.2B, though shares dip in after-hours trading

By
Jessica Mathews
Jessica Mathews
Former Senior Writer
Down Arrow Button Icon
By
Jessica Mathews
Jessica Mathews
Former Senior Writer
Down Arrow Button Icon
November 3, 2025, 11:15 PM ET
Palantir CEO Alex Karp
Palantir CEO Alex KarpRoy Rochlin—Getty Images
Add Fortune on Google for similar content.

Palantir delivered blockbuster quarterly earnings on Monday that topped analyst estimates and sent CEO Alex Karp’s trademark ebullience into overdrive, even if the company’s stock didn’t follow along for the ride. 

In a video interview a few hours ahead of Palantir’s earnings, Karp flailed his arms excitedly as he spoke about the defense tech and AI software company’s results. “These numbers validate we were right. Please learn from us. That’s what these numbers mean,” Karp told Fortune in the interview. 

“These are not normal results. These are not even strong results,” Karp continued later on Monday, during the company’s earnings call. “These aren’t extraordinary results. These are arguably the best results that any software company has ever delivered.”

After soaring roughly 400% over the past year, however, shares of Palantir took a time-out on Monday despite the strong results. The stock initially rose after the earnings were released on Monday, according to Bloomberg, but then slid about 3.5% in after-hours trading.

Palantir posted third-quarter revenue of roughly $1.2 billion, up 63% from the year-ago period, and above the average analyst expectation of $1.09 billion, according to Bloomberg. The company’s $476 million in net income was up 40% year over year. While Palantir’s government contracts business remains strong, business from U.S. commercial customers drove the company’s growth in the third quarter, expanding by 121% year over year to $397 million.  

Karp described the numbers on Monday’s earnings call as more akin to a venture-backed company than a public one, highlighting the “Rule of 40” metric in Palantir’s quarterly earnings deck, which is calculated by combining the year-over-year revenue growth rate and adjusted operating margin. In general, 40% is considered strong performance. This quarter, Palantir’s Rule of 40 was 114%, even higher than last quarter’s result, which was 94%.

Palantir’s revenue figures are still quite small compared with those of peers with a similar market capitalization. And the company’s rich valuation has stoked skepticism among some investors worried about an AI bubble. Regulatory filings from Monday reveal that Michael Burry, the esteemed short-seller known for his big bet against the subprime mortgage market in 2008, has taken out a short position in both Palantir and Nvidia. Palantir and Nvidia last week announced that they had struck a partnership, where Palantir will combine Nvidia chips and software with its tech platform for some of its customers. Palantir said last week that home improvement retailer Lowe’s was already incorporating this into its tech stack, but the software company declined on Monday to share other companies that had rolled that out. 

True to form, Karp delved into a couple touchy subjects on Monday’s earnings call, including the Trump administration’s recent focus on drug traffickers in South America.

“Let me say something slightly political,” Karp said. “And I’m not saying other people agree with this, but when people are attacking our soldiers for stopping fentanyl from coming into this country, I want people to remember if fentanyl was killing 60,000 Yale grads instead of 60,000 working-class people, we’d be dropping a nuclear bomb on whoever was sending it from South America.”

Karp’s shareholder letter from this quarter—his 15th musing to shareholders and Palantir enthusiasts—was also biting. In the letter, Karp suggested that there had been a “rejection of any shared and defined sense of common culture, in this nation and others,” and that this “has had significant costs.”

But more than anything, Karp seemed to revel in the numbers themselves—and rubbing them in the faces of those he says have perhaps been too skeptical.

“Some of our detractors have been left in a kind of deranged and self-destructive befuddlement,” he wrote in the letter, before going on to reference a British film director and later the poet William Butler Yeats.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
By Jessica MathewsFormer Senior Writer
LinkedIn iconTwitter icon

Jessica Mathews is a former senior writer for Fortune, where she covered transportation, defense tech, and Elon Musk’s companies.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Big Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Big Tech

Alphabet Inc. and Google CEO Sundar Pichai speaks during the inauguration of a Google Artificial Intelligence (AI) hub in Paris on February 15, 2024. (
Big TechWall Street
AI is forcing Big Tech to do something it’s never done: Spend more than it earns, and Wall Street hates it
By Eva RoytburgJuly 23, 2026
14 hours ago
Photo of Mark Zuckerberg
AIMark Zuckerberg
‘Call us whatever the hell you want’: Mark Zuckerberg just launched an AI optimism blitz using nostalgia to sell Meta’s AI future amid backlash
By Mia OsmonbekovJuly 23, 2026
15 hours ago
sam altman speaks
AIOpenAI
OpenAI debuts ChatGPT Voice so you can have ongoing conversations, ask the AI to complete tasks while hands-free
By Emily ForliniJuly 23, 2026
16 hours ago
Alphabet’s SpaceX stake fuels a $98 billion gain, beating estimates
Big TechMarkets
Alphabet’s SpaceX stake fuels a $98 billion gain, beating estimates
By Barbara Ortutay and The Associated PressJuly 23, 2026
19 hours ago
AI coding company Cursor, soon to be acquired by SpaceX, expands its CFO council
NewslettersCFO Daily
AI coding company Cursor, soon to be acquired by SpaceX, expands its CFO council
By Sheryl EstradaJuly 23, 2026
24 hours ago
ServiceNow CEO Bill McDermott pumping his fist.
AIServiceNow
Wall Street is finally starting to buy ServiceNow CEO Bill McDermott’s story as the company beats Q2 earnings forecasts
By Jeremy KahnJuly 23, 2026
1 day ago

Most Popular

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
2 days ago
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Economy
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
By Sasha RogelbergJuly 23, 2026
21 hours ago
Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
Personal Finance
Spain lifted the World Cup, but the IRS still gets a cut of its $50 million pay day as players, coaches and refs all face complex U.S. “jock taxes”
By Joshua HongJuly 23, 2026
1 day ago
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
1 day ago
Current price of oil as of July 23, 2026
Personal Finance
Current price of oil as of July 23, 2026
By Joseph HostetlerJuly 23, 2026
1 day ago
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
Economy
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
By Sasha RogelbergJuly 22, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.