Palantir Technologies reported third-quarter revenue and profit above Wall Street forecasts on Monday and raised its full-year 2026 revenue guidance. The Miami-based software company said corporate demand for its artificial-intelligence platform kept accelerating.

The company said total revenue grew by more than 60 per cent from a year earlier. Its US commercial business was again the fastest-growing division. Adjusted earnings per share beat the consensus compiled by LSEG, and Palantir lifted its forecasts for annual revenue, US commercial revenue and adjusted operating income.

In its shareholder letter, Palantir credited its Artificial Intelligence Platform, known as AIP, for the gains. The company said US clients were moving from pilot projects to large production deployments, and it reported another record in the total value of contracts signed. US government revenue also rose strongly, driven by Pentagon programmes including the Maven Smart System.

The results extended a run of quarters in which Palantir has beaten estimates and raised guidance. That record has helped make it one of the most valuable software companies in the S&P 500.

Analysts at Wedbush and Jefferies said before the report that the stock's valuation left little room for disappointment. Shares were volatile in after-hours trading on the Nasdaq as investors weighed the upgraded outlook against those expectations.

The report came during a heavy week of US third-quarter earnings, with investors looking for signs that corporate spending on AI is turning into revenue. Palantir said it would give its first guidance for 2027 when it reports fourth-quarter results in February.