UK Defence Secretary John Healey and Palantir Technologies CEO Alex Karp in September (Lucy North/Getty Images)

Palantir posts ninth straight earnings beat, boosts guidance

Here’s how the numbers look.

11/3/25 4:08PM

Defense and AI software maker Palantir Technologies reported its Q3 numbers after the close of trading on Monday, topping earnings estimates for the ninth quarter in a row.

Here’s how things shaped up for the retail trader favorite, which was the best-performing stock in the S&P 500 last year:

Adjusted earnings per share of $0.21 vs. Wall Street expectations for $0.17.
Sales of $1.18 billion vs. an expected $1.09 billion, per FactSet data.
Q3 sales grew 63% year over year vs. a 50.5% Wall Street expectation. (Palantir CEO Alex Karp described it as “an accelerating and otherworldly growth rate.”)
Palantir now sees Q4 2025 revenue in the range of $1.327 billion to $1.331 billion, vs. Wall Street expectations for $1.18 billion.
Palantir now sees full-year 2025 revenue in the range of $4.396 billion to $4.400 billion, vs. its most recent guidance of $4.14 billion to $4.15 billion and Wall Street expectations for $4.139 billion.
US commercial software sales grew 121% to hit $396.7 million.
US government software sales grew 52% to $486 million.

Shares whipsawed after-hours and were recently essentially flat.

Palantir is on track for its second straight year of remarkable market gains. The stock — which has become a favorite of retail traders — is up more than 150% so far in 2025, and that follows the 340% return it notched in 2024 that made it a darling of retail investors.

“Palantir has made it possible for retail investors to achieve rates of return previously limited to the most successful venture capitalists in Palo Alto,” Karp said in a letter accompanying the results. “And we have done so through authentic and substantive growth.”

At the same time, gains mean that even as Palantir has generated some of the fastest realized sales and profit in the S&P 500, that’s done little to fix the one persistent issue that’s been spotlighted about the stock: it has one of the most insane valuations ever seen for a company of its size.

But hey, it keeps going up.

Tasha Matsumoto

Stocks close lower, trimming steeper losses as oil retreats

Oil prices fell after Israeli Prime Minister Benjamin Netanyahu said his country is helping with US efforts to open the Strait of Hormuz.

Nate Becker9h

Stocks get a jolt as Netanyahu says Israel is helping US efforts to open Strait of Hormuz

Israeli Prime Minister Benjamin Netanyahu said in a press conference that his country is helping with US efforts to open the Strait of Hormuz, putting a jolt into stocks.

The S&P 500, which had been solidly negative for most of the day, turned slightly green after the remarks. The rebound lost a bit of steam shortly thereafter, but stocks still remained higher than they were before Netanyahu’s comments.

“Israel is helping, in its own way, in intel and other means, the American efforts to open the Strait of [Hormuz],” Netanyahu said, according to a video of the press conference.

Here are another few interesting headlines coming across from the presser, per Reuters:

*NETANYAHU: IRAN HAS NO CAPACITY TO ENRICH URANIUM OR MAKE BALLISTIC MISSILES AFTER 20 DAYS OF WAR

*NETANYAHU: CAN’T DO A REVOLUTION FROM THE AIR, THERE NEEDS TO BE A GROUND COMPONENT AS WELL

*NETANYAHU: ISRAEL ACTED ALONE AGAINST SOUTH PARS

*NETANYAHU: TRUMP ASKED US TO HOLD OFF ON FUTURE SUCH ATTACKS

And here’s how the market reacted instantly after his comments:

Stocks Slump as Energy Surge Fuels Inflation Fears: Markets Wrap

“Israel is helping, in its own way, in intel and other means, the American efforts to open the Strait of [Hormuz],” Netanyahu said, according to a video of the press conference.

Here are another few interesting headlines coming across from the presser, per Reuters:

*NETANYAHU: IRAN HAS NO CAPACITY TO ENRICH URANIUM OR MAKE BALLISTIC MISSILES AFTER 20 DAYS OF WAR

*NETANYAHU: CAN’T DO A REVOLUTION FROM THE AIR, THERE NEEDS TO BE A GROUND COMPONENT AS WELL

*NETANYAHU: ISRAEL ACTED ALONE AGAINST SOUTH PARS

*NETANYAHU: TRUMP ASKED US TO HOLD OFF ON FUTURE SUCH ATTACKS

And here’s how the market reacted instantly after his comments:

Matt Phillips11h

Gold tumbles as market sees Fed shifting toward inflation fighting

Gold and gold miners tumbled Thursday, as the rolling Iran war energy crisis revived worries about inflation and pushed the market to take additional rate cuts this year off the table.

Gold (SPDR Gold Shares ETF) futures dropped roughly 6% shortly after 12 p.m. ET, hammering share prices for miners Newmont and Freeport-McMoRan. Silver (iShares Silver Trust) futures were down nearly 9%.

The decline in precious metals came alongside another sharp rise in energy prices. US benchmark crude oil (United States Oil Fund LP) and natural gas prices both jumped more than 3% after major Iranian attacks on Qatari energy infrastructure. US retail gasoline prices tracked by the American Automobile Association hit $3.884, up 33% from the end of last month, when a joint US-Israeli attack on Iran ignited hostilities.

Normally, gold prices are seen as a hedge on inflation, which might suggest that they should rise alongside expectations for persistent price increases.

But the speed of the Iran war energy shock — which will add to inflationary pressures already visible in recent economic reports, such as this week’s Producer Price Index, and could become a political problem for the Trump administration — has nudged traders to change their their views on whether the Federal Reserve would be able to deliver the rate cuts widely expected just a few weeks ago.

Yields on shorter-maturity US Treasury notes shot higher Thursday, reflecting expectations for tighter monetary policy. And prices in the market for federal funds futures suggest traders no longer see the US central bank cutting interest rates this year at all. (Early this month, market pricing implied expectations for two more cuts this year.)

On Thursday, yields fell on longer-term US government securities, such as the US 30-year bond. That suggests the market thinks a Fed shift toward inflation fighting and away from rate cutting would likely result in some decline in growth and/or inflation, helping to explain the drop in precious metals prices, as there would be less of a need for inflation hedges in such a scenario.

Bond Traders No Longer Price In Any Chance of Fed Cut in 2026

Normally, gold prices are seen as a hedge on inflation, which might suggest that they should rise alongside expectations for persistent price increases.

J. Edward Moreno12h

Novo says FDA has approved high-dose Wegovy shot

The Food and Drug Administration approved Novo Nordisk’s high-dose Wegovy shot, the company announced on Thursday.

Wegovy HD, a once-weekly 7.2-milligram injection, helped patients lose 20.7% of their body weight after 72 weeks, putting it in line with Eli Lilly’s competitor drug, Zepbound. By comparison, Wegovy typically has a maximum dose of 2.4 milligrams, which resulted in 15% weight reduction over 68 weeks in trials.

Wegovy HD was the first drug to be approved through the FDA’s new priority voucher system. This comes as Novo, despite being early to the GLP-1 boom, has been outpaced in sales by Lilly. The company released a pill version of Wegovy in January, which has shown strong early uptake, though new competitor products are set to debut this year and next.

The stock is down about 1.6% for the day, but was down nearly 3% before the announcement.

Tasha Matsumoto

Crudely speaking

12h

What we talk about when we talk about crude oil

While both WTI and Brent are light and sweet crude, differences in geography and chemical composition influence the Brent-WTI spread.