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.

Max Knoblauch1h

Airline stocks climb as oil prices retreat on easing US-Iran tensions

West Texas Intermediate crude futures fell more than 5% on Monday, following President Trump’s comments over the weekend that Iran was “seriously talking” with the US — a sign that tensions between the countries could be easing.

That drop-off boosted major US airlines, which stand to benefit from lower fuel costs. Shares of carriers including Frontier, United Airlines, JetBlue, and Delta Air Lines were all up in the mid- to high single digits.

Max Knoblauch2h

Gaming stocks rebound from sell-off as analysts dismiss Google’s new AI project as merely “a one-minute-long walking simulator generator”

Investor fears about the impact of Google’s Project Genie on the broader gaming market may have been an overreaction, analysts at mBank said in a note on Monday.

According to analyst Piotr Poniatowski, Friday’s sell-off was “unjustified.”

Unity Software shed 24%, Roblox lost 13%, and Take-Two closed down 8% heading into the weekend. All three are up at least 3% on Monday.

Project Genie, Google’s new generative-AI prototype, can create interactive worlds from a text or image prompt, and users are already testing its ability to recreate copyrighted worlds. But, as Poniatowski noted, interactivity within those generated worlds is very limited:

“Control is limited to movement and jumping. Users cannot perform complicated actions such as crouching, climbing, dodging, evading, shooting, etc. It is simply moving and jumping around the generated world. There are no NPCs, no interactions and no depth. As of writing, Project Genie is essentially just a one-minute-long walking simulator generator.”

The note mirrors a post on X by Unity CEO Matthew Bromberg on Friday, in which the exec said models like Google’s are “unsuitable on their own for games that require consistent, repeatable player experiences.”

Gaming stocks plunge following release of Google’s AI tool that can create playable, copyrighted worlds

Unity Software shed 24%, Roblox lost 13%, and Take-Two closed down 8% heading into the weekend. All three are up at least 3% on Monday.

“Control is limited to movement and jumping. Users cannot perform complicated actions such as crouching, climbing, dodging, evading, shooting, etc. It is simply moving and jumping around the generated world. There are no NPCs, no interactions and no depth. As of writing, Project Genie is essentially just a one-minute-long walking simulator generator.”

Luke Kawa2h

An options trade to benefit from a potential turnaround in beaten-down Palantir after earnings

Palantir Technologies, the richly valued AI darling, hasn’t been immune from the persistent waves of selling that have drowned software stocks.

Last week, the stock broke below its 200-day moving average for the first time since August 5, 2024, and ended January with its lowest close since July. Needless to say, the defense data and AI software company has rarely traded worse heading into an earnings report, with its Q4 results due out after the close on Monday.

“It appears that expectations coming into this earnings print are lower than they have been in the last year or so,” Dean Curnutt, CEO of Macro Risk Advisors, wrote. “And this potentially sets the shares up for post-earnings volatility and directional follow-through to the upside.”

His recommendation:

Buy call options with a strike price of $162.50 that expire on Friday;
Sell the same amount of calls with a strike price of $182.50 that expire on Friday.

As of the time of recommendation, the potential payout on this trade was roughly 10.5 to 1.

Curnutt noted that when Palantir has been this beaten-down ahead of earnings, shares have usually performed very well thereafter.

Palantir Pre/Post Earnings — Source: Macro Risk Advisors

“As of right now, PLTR T-3 move is -11%,” he concluded. “If you look at the last 8 quarters in the attached table, the only 2 times where the T-3 was negative (8/6/24 and 11/5/24), the T+5 moves were +22% and +45% respectively.”

Claire Yubin Oh

Elon 🤝 Elon

SpaceX’s planned $1.5 trillion IPO is on track to be gargantuan enough

But a potential merger with xAI or Tesla would create a Musk-centric megaplanet.

Luke Kawa5h

Rare earth stocks surge on report the US will launch a $12 billion critical minerals stockpile

Rare earth and critical minerals stocks are soaring as Bloomberg reports that President Donald Trump will soon launch a $12 billion initiative to stockpile critical minerals.

Think the Strategic Petroleum Reserve, but for the likes of gallium, cobalt, and lanthanum.

MP Materials, USA Rare Earth, Critical Metals, NioCorp, and United States Antimony Corp. are all soaring in premarket trading on this report.

The purpose of this project, reportedly dubbed “Project Vault,” is to secure a sufficient domestic supply of these strategically important materials for the private sector. Three commodities trading houses and more than a dozen companies (including Google, General Motors, and GE Vernova) are said to be participating in this venture.

Here’s how the mechanics would reportedly work:

“Under the arrangement, companies that make an initial commitment to purchase materials at a specified inventory price later — and pay some up-front fees — will be able to present Project Vault with a shopping list of preferred materials they need.

The project, in turn, will seek to procure and store the materials, with the manufacturers charged a carrying cost for the expenses associated with interest on the loan and holding the elements.

Manufacturers will be allowed to draw down their material stash as long as the firms replenish them. In the case of a major supply disruption, they will be able to access all of it, the officials said.”

The Trump administration has invested in many critical minerals stocks, most recently USA Rare Earth, in a bid to bolster North American output. China currently dominates the production and processing of many strategically important minerals, which are used in everything from fluorescent lights and EV batteries to semiconductors. Access to rare earths was a particularly contentious issue as the US and China ironed out a trade agreement late last year.