Palantir reports Q3 2024 revenue growth of 30% y/y, U.S. revenue growth of 44% y/y, GAAP EPS of $0.06; raises full year guidance on revenue, U.S. comm revenue, AFCF and adj. op. income well above consensus estimates on “AI demand that won’t slow down.”
U.S. commercial revenue grew 54% y/y and 13% q/q and U.S. government revenue grew 40% y/y and 15% q/q.
We generated an adjusted operating margin of 38%, increasing our Rule of 40 score to 68% in Q3 2024.
We also generated $1 billion in adjusted free cash flow on a trailing twelve month basis, with $435 million (60% margin) in Q3 2024.
Our GAAP EPS of $0.06 in Q3 2024 outperformed analyst estimates by 50%.
For FY 2024, we now expect revenue of $2,805 - $2,809 million, $42 - $50 million above analyst estimates of $2,759 - $2,763 million.
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