Hiding inside Palantir’s skyrocketing quarter is a foreboding signal

Palantir reported third-quarter revenue of $2.31 billion, up 96% year over year and above analysts' $2.18 billion expectation, with adjusted earnings per share of $0.44 versus $0.41 expected, and U.S. commercial revenue surpassed U.S. government revenue for the first time. However, U.S. enterprise total contract value fell to $1.46 billion from a record $2.13 billion the prior quarter, and CEO Alex Karp said enterprises are signing shorter-duration contracts that Palantir aims to expand later. Palantir raised its full-year U.S. commercial revenue guidance to more than $3.559 billion, at least 143% growth.